The World Bank’s Board of Directors has approved a $150-million loan to support the Resilient Kerala programme designed to strengthen Kerala’s preparedness for natural disasters, climate change impact, and disease outbreaks.
‘’This additional financing will further deepen Kerala’s resilience in the critical areas of coastal erosion and water resource management,’‘ the World Bank said in a statement.
The loan, from the International Bank for Reconstruction and Development (IBRD), has a final maturity of 14 years, including a grace period of six years. It complements the World Bank’s earlier investment of $125 million and the overall support is expected to protect nearly 50 lakh people from the impact of floods, the bank said.
“Through this additional financing, the World Bank will continue supporting Kerala in increasing its resilience to climate change,” Auguste Tano Kouame, the bank’s Country Director for India said. “The project will focus on addressing coastal erosion along vulnerable areas of the State – impacting millions of lives,” he said.
The additional financing will also scale up the coverage of the original programme from four to nine coastal districts of the State. It will expand the State’s capability to tackle coastal erosion by creating a shoreline management plan. The plan will assess current and future shoreline changes and create policies to address the risks to environmental resources, human settlements, and infrastructure along the coast, the bank said.
In the aftermath of the 2018 floods, the World Bank had aided the State in building the capability to respond to shocks to the economy and prevent the loss of lives, assets, and livelihoods. The programme supported policy and institutional reforms in the State, including improved management of the Pampa river basin, sustainable and climate-resilient agriculture, risk-informed land-use, and disaster management planning at local levels.
Additional resources will now address hotspots and vulnerable coastal erosion sites where immediate attention is needed. It will also help develop an integrated river basin management plan for the Pampa river basin and support restoration of rivers and lake embankments to minimise flood damage in future, the bank said.
Given its coastal location, Kerala is highly vulnerable to natural disasters and prone to the effects of climate change, the World Bank observed.
