India: Germany to provide Rs 720 crore loan to flood-hit Kerala
By Rejimon Kuttappan
Germany will provide financial aid of Rs 720 crore to rebuild climate-resilient infrastructure in flood-ravaged Kerala.
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According to [Martin Ney, German Ambassador to India] besides a reduced interest loan of Rs 720 crore to promote climate-resilient reconstruction of transport infrastructure, KfW will also provide a Rs 24 crore grant for international expertise in the field of climate-resilient infrastructure planning.
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Ney also stated that within the framework of Indo-German cooperation, the city of Kochi had been selected to receive particular support in order to become a “Smart City”.
“Through KfW, Germany is financing a Rs 940 crore project to provide Kochi with an integrated water transport system. The Water Metro project involves 15 identified routes connecting 41 boat piers and 10 island communities in the 46 km route network,” he said.
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According to [Kerala's Post Disaster Needs Assessment], the state would need about Rs 31,000 crore for recovery and reconstruction. The highest amount would be needed for the reconstruction of roads and transportation (Rs 10,046 crore), followed by housing (Rs 5,443 crore), agriculture, fisheries and livestock (Rs 4,498 crore), employment and livelihood (Rs 3,896 crore), other infrastructure (Rs 2,446 crore), irrigation (Rs 1,483 crore) and water and sanitation (Rs 1,331 crore).
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