India Signs Loan Agreements with World Bank for US $ 153 Million for Odisha Disaster Recovery Project

Bhubaneswar odisha, The Loan Agreements for World Bank (International Development Association {IDA}) assistance of US$ 153 million for Odisha Disaster Recovery Project were signed here today between the Government of India and the World Bank. 
The Financing Agreement was signed by Nilaya Mitash, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Mr. Michael Haney, Acting Country Director (India), World Bank on behalf of the World Bank. The Project Agreement was signed by Upendra Nath Behera, Additional Chief Secretary on behalf of the Government of Odisha. Officers of the Finance Ministry along with the representatives from the State Government and the World Bank were also present on the occasion. 
The Objective of the project is to restore and improve housing and public services in targeted communities of Odisha, and increase the capacity of the State entities to respond promptly and effectively to an eligible crisis of emergency. 
Direct beneficiaries of the Project include population of the coastal areas in Ganjam, Puri and Khordha affected by the cyclone that will be part of the housing reconstruction programme, about 150,000, of which about 50% are female, and about 30,000 inhabitants of selected slums in Berhampur, of which about 50% are female. In addition, the total population of Berhampur, around 350,000, will benefit either directly or indirectly from the improvements expected to result from the master plans, as well as the totality of the 42 million inhabitants of the State as a result from increased capacity to manage and respond to disasters. 

The project will have five components which are (I) Resilient Housing Reconstruction and Community Infrastructure, (II) Urban Infrastructure in Berhampur, (III) Capacity Building for Disaster Risk Management, (IV) Implementation Support, and (V) Contingent Emergency Response. 

The Project focusses on enhancing the disaster risk management systems. In addition, it will help build institutional capacity to prepare for and manage the impact of natural disasters and help people protect themselves from natural disasters and recover quickly from them. The Project will be implemented over a period of 5 years. The Government of Odisha is the implementing agency of the Project. 
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