India Signs Financing Agreement with World Bank

News:

• The Financing Agreement for World Bank (IDA) assistance of US$ 308.40 million for National Cyclone Risk Mitigation Project-II (NCRMP-II) was signed between Government of India and the World Bank.
• The Financing Agreement was signed by Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and Mr. John Blomquist, Program Leader and Acting Country Director in India, on behalf of the World Bank.
• The objective of NCRMP-II is to reduce vulnerability to cyclone and other hydro-meteorological hazards of coastal communities in the States of Goa, Gujarat, Karnataka, Kerala, Maharashtra and West Bengal; and increase the capacity of the State entities to effectively plan for and respond to disasters.
• The primary beneficiaries of NCRMP-II will be coastal communities in the target states benefiting from cyclone risk mitigation infrastructure and early warning systems.
• The project will also finance technical assistance for strengthening of multi-hazard risk management at the national level and improving the quality of available information on multi-hazard risks for decision making across the country.
• The project is implemented by the Ministry of Home Affairs through National Disaster Management Authority (NDMA). At the State level, it is executed by the respective State Disaster Management Authorities.

Source: PTI