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India and World Bank Sign US $ 250 Million Financing Agreement for Andhra Pradesh Disaster Recovery Project |
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| 16-7-2015 | |||
The Financing Agreement for World Bank (IDA) assistance of US$ 250 million for Andhra Pradesh Disaster Recovery Project was signed between Government of India and the World Bank on July 16, 2015 at New Delhi. The Financing Agreement was signed by Mr. S. Selvakumar, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Mr Onno Ruhl, Country Director (India) of World Bank on behalf of the World Bank. The Project Agreement was signed by Mr. Jagdish Chander Sharma, Principal Secretary, Land and Disaster Management on behalf of Government of Andhra Pradesh. Ms. Aparna Bhatia, Director (MI), DEA anchored the ceremony held at North Block, New Delhi. Representatives from State Government and the World Bank, among others, were present. The objective of the project is to restore, improve and enhance resilience of public services, environmental facilities, and livelihoods in targeted Communities of Andhra Pradesh, and increase the capacity of the State to respond promptly and effectively to an eligible crisis or emergency. The project, through its different components, will provide both direct and indirect benefits to the State of Andhra Pradesh. Direct beneficiaries include populations of the coastal areas affected, specifically the four heavily impacted districts of Srikakulam, Vizianagaram, Visakhapatnam and East Godavari with a total approximate population of 13.3 million residents. Project Components: The project will have seven components which are (i) Resilient electrical network, (ii) Restoration of connectivity and shelter infrastructure, (iii) Restoration and protection of beach front, (iv) Restoration of environmental services and facilities and livelihood support, (v) Capacity building and technical support for disaster risk management, and (vi) Project implementation support and (vii) Contingency Emergency Response. It is a loan for an implementation period of 5 years. Government of Andhra Pradesh is the implementing agency. |
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