India and WB Agreement: Highlights

India and WB Agreement: Highlights

Question: Recently, India and the World Bank signed a financing agreement for assisting the Andhra Pradesh Disaster Recovery Project. Give the main highlights of this agreement.

- India and World Bank have signed a financing agreement for assistance of around USD 250 million for the Andhra Pradesh Disaster Recovery project

- This is a loan for the implementation period of 5 years

- AP government will be the implementing agency for this project

- Financing Agreement was signed along with the Project Agreement

- Objective of the APDR project was resiliency building of public services, environmental facilities and livelihoods in targeted communities of AP

- It also works towards increasing the capacity of AP to respond efficiently and effectively to emergencies

- Direct beneficiaries of this agreement will be the affected coastal areas namely Srikakulam, Vizianagaram, Visakhapatnam and East Godavari.

Facts and Stats

- APDR has 7 components namely:

- Resilient electrical network

- Restoration of connectivity and shelter infrastructure

- Restoration and protection of beach front

- Restoration of environmental services and facilities and livelihood support

- Capacity building and technical support for disaster risk management

- Project implementation support

- Contingency Emergency Response