World Bank will give 25 crore dollars for rebuilding Kerala. It is equivalent to 1750 crores in Indian money. The loan agreement was signed by the World Bank representatives, union government and State government. The fund will be used to rebuild the state which was devastated by the floods in 2018. The fund was given after detail study.
The fund will be allocated to support drainage facilities, irrigation, water supply, and agriculture sectors. The World Bank meeting at Washington in last month approved the support plan. Sameer Kumar Khare, Additional Secretary in the Ministry of Finance, signed on behalf of the Central government, while Manoj Joshi, Additional Chief Secretary signed for the State government. In the tri-part agreement, Junaid Kamal the country director signed for the World Bank. The state is already receiving various funds from the World Bank however the current amount is a huge one.