Kerala to raise Rs 159 bn in loans from WB, ADB for rebuilding after floods

A cabinet minister's meeting in Kerala has decided to raise Rs 159 billion as loans from World Bank, Asian Development Bank and other bilateral funding agencies, domestic financial institutions and banks for the reconstruction of the major regions affected by the floods.The fund will be utilised in sectors like public works roads, roads under the local self governments, water supply, flood control, irrigation, coastal conservation, rehabilitation in coastal areas, public institutions, health care and environmental protection. The Cabinet has approved the proposal for a cost of Rs 158.82 billion. The cabinet meeting also decided to consider the losses in agriculture and plantation sector and look at possibilities to raise resources for rebuilding those sectors.The state government earlier approached the Union Ministry of Finance to borrow from the World Bank, Asian Development Bank and other bilateral agencies as part of fund raising for the restructuring of Kerala. The World Bank and .

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