Kerala CM seeks World Bank help to rebuild State

A WB-ADB high-level team holds discussion with ministerial team on the recent floods

Chief Minister Pinarayi Vijayan holding discussions with a World Bank-Asian Development Bank team in Thiruvananthapuram on Wednesday.

Kerala has sought loan from the World Bank (WB) to overcome the devastation caused by the monsoon fury and recent floods and to rebuild the State.

Chief Minister Pinarayi Vijayan sought financial assistance of the WB during an interaction he had with the visiting high-level team comprising officials of the WB, Asian Development Bank (ADB) and Union Ministry of Economic Affairs at the Secretariat here on Tuesday.

“The magnitude of the devastation caused by the floods is high. Besides the damage caused to roads, bridges and infrastructure, traders and businessmen too are facing one of the worst crises. The existing schemes will not be enough for their rehabilitation. The State needs the assistance of the WB,’’ he said. Creating world-class roads, bridges and infrastructure would instil confidence among the people. Those staying in ecologically fragile areas in the State needed to be rehabilitated. The government expected a speedy decision from the WB-ADB team on the financial assistance.

The Chief Minister lauded the initiative taken by the Department of Economic Affairs in sending the WB-ADB team to the State to hold discussions and to extend assistance to overcome the devastation. In the next 10 days, the WB-ADB team will carry out a Rapid Damage Assessment and Needs Analysis.

This will be followed by a meeting with Chief Secretary Tom Jose and Secretaries of various departments to decide on the quantum of loan.

Hisham Abdu, Acting Country Director, WB, told the Chief Minister that the WB was with the government and the people in the journey to rebuild Kerala.

The Chief Secretary made a presentation on the devastation caused by the floods.

Earlier, the delegation met the Chief Secretary and Principal Secretary of Finance Manoj Joshi and held discussions. Bandana Preyashi, Director, Department of Economic Affairs; Kenichi Yokoyama, Country Director of India Resident Mission, ADB; Deepak Singh, specialist, World Bank Lead Disaster Risk Management; and Madan Karnani, senior investment officer, International Finance Corporation, the private sector arm of the WB Group, are in the team.