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WORLD BANK RELEASES US$400 MLN IN EMERGENCY AID FOR GUJARAT.
NEW DELHI, April 2 Asia Pulse - The World Bank has signed an agreement in New Delhi formally making US$400 million first phase assistance available for emergency earthquake relief in Gujarat.
In order to provide rapid support, this financial assistance package has been established by reallocating funds from 12 existing World Bank-financed projects, the World Bank said in a statement. Where required, supplementary allocations will be made for these projects at the earliest.
Edwin Lim, Country Director, India, signed on behalf of the World Bank and Dr. Adarsh Kishore, Additional Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India. G. Subba Rao, Additional Chief Secretary, Government of Gujarat, signed on behalf of the Government of Gujarat.
The World Bank will contribute to immediate and short-term financing needs for housing, rubble removal, temporary shelter, education, health, small earthen dams and local irrigation, state roads and bridges, public buildings, capacity building for local communities, and establishment of disaster management capacity in the state. The Government of Gujarat will be able to use part of this money retroactively to ...
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Source: HighBeam Research, WORLD BANK RELEASES US$400 MLN IN EMERGENCY AID FOR GUJARAT.