World Bank has approved a ____ million loan to support the Resilient Kerala program.

Correct Answer :   $150 Million

The board of directors of the World Bank approved a $150 million loan to support Resilient Kerala programme to continue strengthening the state’s preparedness against natural disasters, climate change impacts, and disease outbreaks.

* This additional financing will further deepen the state’s resilience in critical areas of coastal erosion and water resource management.

* According to a statement released by the World Bank on Saturday (17th June 2023), this loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14 years, including a grace period of six years.

* This financing complements the bank’s earlier investment of $125 million. The overall support of the two projects is expected to protect nearly 5 million people from the impacts of floods.

* “Through this additional financing, the World Bank will continue supporting Kerala in increasing its resilience to climate change,” said Auguste Tano Kouame, World Bank’s country director for India. The project will focus on addressing coastal erosion along vulnerable areas of the state, impacting millions of lives.

* The additional financing will expand and deepen the state’s resilience to mitigate impacts of coastal erosion by building a shoreline management plan. The plan will assess the current and future shoreline changes in the state and create policies to address the risks to environmental resources, human settlements and infrastructure along the coast...

Source : TOI