World Bank’s `1500 crore Jehlum-Tawi flood recovery project
Tripartite talks between WB, GoI and JK on April 23
The World Bank would hold crucial discussions this week with Government of India and Jammu and Kashmir government over Rs 1500 crore loan offered by it for undertaking reconstruction in flood-hit areas of the State.
According to official sources, the meeting likely to take place on April 23 at New Delhi would finalize the modalities and technicalities of WB-assisted “Jhelum- Tawi Flood recovery project” for the deluge-hit state.
“The draft financing agreement, project appraisal document, proposed operation manual and department-wise allocations are on the agenda,” sources disclosed.
The meeting, according to sources, will outline the steps for concluding tripartite negotiations between WB, GoI and JK government over the project.
As already reported, the multilateral funding agency has offered financial assistance to the state in five sectors including Roads & Buildings Sector and Urban Flood Management.
While WB has proposed US $ 80 million for reconstruction of roads and bridges, it has pledged assistance of US $ 60 million for reconstruction and strengthening of critical infrastructure, US $ 50 million for urban flood management, US $15 million for restoration and strengthening of livelihood , US $ 25 million for strengthening disaster risk management capacity and US $ 20 million for implementation support.
Following the last year’s devastating floods, GoI offered to send a team of multilateral financial institutions to the state to explore possibilities for their intervention in rebuilding the flood-hit infrastructure. The State government responded positively to the offer, following which the Union Finance Ministry led a team of these institutions to JK for preliminary assessment of the post-flood situation.
After getting a go-ahead from Government of India in January this year, the WB teams undertook the assessment survey in flood-affected areas of the State.
Later, WB submitted the damage assessment report to the Department of Economic Affairs (DEA), Ministry of Finance, GoI.
J&K was hit by a devastating flood during the first week of September 2014, causing colossal loss to lives and property. The summer capital of Srinagar was worst hit in the flood described by the state government as “disaster of international magnitude”.
Around 2.40 lakh structures suffered partial to massive damage in the deluge which caused huge devastation in Kashmir. The housing, health and education sectors were worst hit in the Valley.
