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Kerala Floods: State to Borrow ₹159 bn from ADB, WB for Rebuilding
October 17, 2018
The state government of Kerala has decided to raise ₹159 billion worth of loans from Asian Development Bank, World Bank, and other funding groups and banks to rebuild the infrastructure that suffered massive loss due to the recent floods. The funds will be used in roads rebuilding, public institutions, environmental protection, healthcare, etc.
A chief secretary has been appointed to lay the groundwork for the redevelopment projects and give directions to the relevant authorities. They will be supported by a newly-formed high-level committee that comprises experts from various fields.
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