Flood Danage : Govt. Of India ,J&K Govt And World Bank To Sign Tripartite Pact For Rs.1,500 Cr Loan

25 April, New Delhi

The Jammu & Kashmir government is pursuing structured plan to provide adequate support system for the rehabilitation of the flood affected people and rebuild the infrastructure damaged by the September 2014 devastating floods in the State. In this connection, the World Bank, Centre and the State Government have agreed to sign a tripartite agreement for providing Rs 1500 crore loan.

Sources said that a high-level delegation of Jammu and Kashmir government held marathon discussion with senior officials of the World Bank at its New Delhi -based office on Friday.

The World Bank Loan will help the State in re-construction of damaged infrastructure in various sectors including roads, hospitals, irrigation, education and rehabilitation of flood victims.

in January this year, the World Bank teams had undertaken the assessment survey in flood-affected areas of the State.

The September 2014 deluge had left a trail of devastation behind it while snatching around 300 precious human lives, affecting over 12 lakh people and also over 6 lakh hectares of crop area besides damaging infrastructure.

The World Bank has put the estimate of losses in Jammu and Kashmir at Rs 21,000 crore-far below the state government’s preliminary estimate of losses worth Rs 1 lakh crore due to the devastating deluge.

The 1500 crore loan assistance likely to be cleared by next month end, is expected to prove a great succor for the state government to initiate the rehabilitation plan.

Prime Minister Narendra Modi had recently assured PDP President Mehbooba Mufti, of adequate support from the Centre during her meeting with Prime Minister in New Delhi.