June 4, 2015 7:37 AM

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World Bank approves $ 250 million loan for J&K

World Bank has approved 250 million US dollars loan for Jhelum and Tawi Flood Recovery Project for reconstruction of flood-affected public infrastructure in Jammu and Kashmir. The multi-lateral lender said in a release that in addition to reconstruction, which includes reconstruction of roads, bridges and public infrastructure, the project will also help the region be better prepared for the future.The project will be funded by credit from World Bank's concessionary – International Development Association. A continuous spell of rains in September last year had caused Jhelum, Chenab and Tawi rivers, their tributaries and many other streams to flow above the danger mark which had severely affected livelihoods in the state. Due to the unprecedented heavy rainfall, the catchment areas, particularly low lying ones, were flooded for more than two weeks, while Jhelum breached its banks at several places.

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