Thiruvananthapuram: As Kerala is facing another bout of heavy rains exactly a year after the devastating floods last year, offers of aid to rebuild the state are still being made. Germany has once again offered to provide loans for rebuilding Kerala.
Authorities of the German Development Bank (KfW) have said that they were ready to give Rs 1,500 crore in addition to the Rs 1,370 crore granted in the first phase.
Of the Rs 1,370 crore, Rs 720 crore was handed over to the Kerala government in the first instalment.
The KfW authorities had held preliminary talks with the chiefs of the Rebuild Kerala Initiative regarding the new loan at Thiruvananthapuram the other day.
It is part of the development policy loan and it would be charged around 4 per cent interest. Loan of Rs 1,500 crore to Rs 1,750 crore can be availed in this category. The amount is determined based on the proposal submitted by Kerala.
Considering the speedy implementation of procedures in the first phase, the foreign bank was ready to grant the loan for a second time.
The Public Works Department would be utilising this amount to build design roads that are capable of surviving the floods. The state government would also spend an equal share.
The KfW had given the nod to Kerala’s proposal that said 54 roads, covering a distance of 800 km, would be rebuild. Rs 1,500 crore is estimated to be the total cost.
The World Bank had given Rs 3,500 crore, while the Asian Development Bank gave Rs 1,722 crore for rebuilding the state. The total expenditure for rebuilding is estimated to be at Rs 31,000 crore.
Public infrastructure, as well as private property, were ruined in the floods last year.
