The World Bank on Friday has granted a loan agreement of Rs 1750 crore for the post-flood rebuilding of infrastructure in Kerala. The loan will be for 30 years with interest rates of 1.5 percentage for Rs 1200 crore and five percent for Rs 550 crore.
The total loss in the flood — the worst in a century — was estimated at over Rs 31,000 crores. As urgent relief, Rs 10,000 was given to 6.9 lakh families. Construction of 5422 houses has been completed. Majority compensation cases have been resolved. Rs 1651 crores have been distributed to farmers.
The CM had said that with the available funds, Alappuzha-Changanassery elevated highway, Sangumugham-Airport road, houses, and village roads will be reconstructed.
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