The World Bank and the Asian Development Bank (ADB) have in-principle agreed to provide $500 million (around Rs 3,000 crore) assistance to the Andhra Pradesh government for the reconstruction work in areas impacted by the recent Hudhud cyclone in addition to the steps that enhance the preparedness of people in the face of similar natural calamities, government officials said here today.
Country directors of Wold Bank and ADB, Omno Rahl and Therresakho, who came here to assess the damage caused by the cyclone at the behest of the Government of India met state government officials for this purpose.
Chief secretary IYR Krishna Rao convened a meeting where secretaries of various departments made a presentation on the damages caused by the cyclone along with requirement of funds to complete the ongoing rehabilitation and reconstruction works in Visakhapatnam and other places.
According to the officials, the Panchayat Raj department alone requested for Rs 2,000 crore to rebuild the rural road network among other things in the affected districts. Similarly, the energy department requested for Rs 900 crore to rebuild the power distribution network, particularly to lay the underground cable network in cyclone-prone areas. The Irrigation department also sought Rs 300 crore for restoration works.
The state government also sought more than Rs 3,000 crore assistance under which it proposes to build houses and other community structures that can withstand the impact of natural calamities in the coastal areas.
"Country directors of both the banks have come simultaneously in an effort to expedite the financial assistance process," a senior government official said, adding the sanctions of the financial assistance to various works by both the agencies are targeted to be completed before June, 2015. Joint Secretary, Department of Economic Affairs Tarun Bajaj also took part in this meeting.
