Guwahati: In the latest update, the World Bank has approved a loan of USD 108 million to assist Assam in improving its disaster preparedness and flood forecasting capabilities.
This loan is part of a larger USD 500 million investment program for the state and is expected to benefit approximately 6 million people by reducing the risks of floods and river erosion.
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The Assam Integrated River Basin Management Project will involve building green infrastructures in the Beki and Buridehing river basins and protecting around 100,000 people from the effects of floods.
In addition, it will provide safer evacuation and shelter facilities, including access to climate-resilient flood shelters to at least 10,000 people.
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Auguste Tano Kouame, the World Bank’s Country Director for India, expressed his opinion on the loan, “The 2022 floods adversely impacted millions of people in Assam. This project will build on Assam’s disaster risk management approach thus contributing to climate-resilient growth while protecting lives and property for the people of Assam.”
“Water resource management combined with disaster preparedness is a critical way to protect natural resources and increase economic growth,” said the Task Team Leaders for the project.
The team added, “The project will contribute to designing climate resilient villages and develop flood shelters that provide sufficient space for community members and livestock.”
The $108 million loan from the International Bank of Reconstruction and Development (IBRD) has a maturity of 11.5 years and a grace period of 4 years.