April 26, 2024 20:11 (IST)
India signs Financing Agreement with World Bank for US$ 104.00 Million
New Delhi, Aug 11 (IBNS): The Financing Agreement for World Bank (IDA) assistance of US$ 104.00 million for Additional Financing under National Cyclone Risk Mitigation Project-I (NCRMP-I) was signed between Government of India and the World Bank here on Tuesday.
The Financing Agreement was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and John Blomquist, Program Leader and Acting Country Director in India, on behalf of the World Bank.
The Project Agreement for State of Odisha was signed by G.V.V. Sarma, Principal Secretary (Disaster Management), & Managing Director, Odisha State Disaster Management Authority (OSDMA) on behalf of the Government of Odisha.
The Project Agreement for the State of Andhra Pradesh was signed by Mr. J. C. Sharma, Principal Secretary (Disaster Management), Department of Revenue, on behalf of the Government of Andhra Pradesh.
The objective of Additional Financing under NCRMP-I is to reduce the vulnerability of coastal communities to cyclone and other hydro meteorological hazards in Andhra Pradesh and Odisha.
The Additional Financing under NCRMP-I, through its different components, will provide both direct and indirect benefits to the coastal communities in the States of Andhra Pradesh and Odisha. It would also provide improved access to emergency shelter and evacuation against wind storms, flooding and storm surge in high risk areas currently not covered by the original project (NCRMP-I).
The project has four components: (i) Early Warning Dissemination System (EWDS) and Capacity building for coastal communities; (ii) Cyclone Risk Mitigation Infrastructure; (iii) Technical Assistance for National and State Level Capacity Building on Disaster Risk Management; and (iv) Project Management and Implementation Support.
It is implemented by the Ministry of Home Affairs through National Disaster Management Authority (NDMA). At the State level, it is executed by the respective State Disaster Management Authorities.
The Project Agreement for State of Odisha was signed by G.V.V. Sarma, Principal Secretary (Disaster Management), & Managing Director, Odisha State Disaster Management Authority (OSDMA) on behalf of the Government of Odisha.
The Project Agreement for the State of Andhra Pradesh was signed by Mr. J. C. Sharma, Principal Secretary (Disaster Management), Department of Revenue, on behalf of the Government of Andhra Pradesh.
The objective of Additional Financing under NCRMP-I is to reduce the vulnerability of coastal communities to cyclone and other hydro meteorological hazards in Andhra Pradesh and Odisha.
The Additional Financing under NCRMP-I, through its different components, will provide both direct and indirect benefits to the coastal communities in the States of Andhra Pradesh and Odisha. It would also provide improved access to emergency shelter and evacuation against wind storms, flooding and storm surge in high risk areas currently not covered by the original project (NCRMP-I).
The project has four components: (i) Early Warning Dissemination System (EWDS) and Capacity building for coastal communities; (ii) Cyclone Risk Mitigation Infrastructure; (iii) Technical Assistance for National and State Level Capacity Building on Disaster Risk Management; and (iv) Project Management and Implementation Support.
It is implemented by the Ministry of Home Affairs through National Disaster Management Authority (NDMA). At the State level, it is executed by the respective State Disaster Management Authorities.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Stock market opens in green with Nifty near 22,600 Fri, Apr 26 2024
Vedanta Ltd Q4FY24 net profit drops 27% YoY to Rs 1,369 cr Thu, Apr 25 2024
Swiggy gets shareholders' nod for $ 1.2 billion IPO Thu, Apr 25 2024
HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr Thu, Apr 25 2024
Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI Thu, Apr 25 2024
Mahindra Tractors crosses milestone by selling 40 lakh tractor units Thu, Apr 25 2024