The Financing and Project Agreements for World Bank assistance (IDA assistance) of $236 million for Tamil Nadu-Puducherry Coastal Disaster Risk Reduction Project (CDRRP) were signed between the Centre, Tamil Nadu and Puducherry governments and the World Bank today.
According to an official release, the project would increase community resilience and preparedness in coastal areas, improve multi-hazard resilient coastal infrastructure, enhance performance of and livelihood opportunities from fisheries with increased safety at sea among others.
Around 150 coastal villages that would benefit from the risk mitigation infrastructure. Further, the project would enable a local reform process, which will ensure an improved performance in the marine fisheries sector, characterised by a sustainable flow of social and economic benefits to coastal fisheries communities and a healthy marine environment.
Over 17,000 families is expected to benefit from the construction of in-situ permanent multi-hazard resilient houses.
Through a disaster management curriculum development for schools and training institutions, the project has the potential to benefit a large community of school children and trainees, the release stated.
It is a specific investment loan for a period of five years. The implementing agencies are state governments of Tamil Nadu and Puducherry.
