Financial Daily from THE HINDU group of publications
Monday, May 09, 2005
Financial Daily from THE HINDU group of publications Monday, May 09, 2005 |
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Money & Banking
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RBI & Other Central Banks Industry & Economy - Natural Calamities ADB loan for tsunami relief in Kerala Our Bureau
Kochi , May 8 THE Asian Development Bank will extend a loan of Rs 240 crore for tsunami relief and rehabilitation operations in the State, said Mr Inderjit Singh, Secretary, Disaster Management. Speaking after the district level review meeting on the tsunami relief work at the Ernakulam Collectorate on Saturday, he said that the funds could be utilised for completing the construction of roads and bridges, repairing power lines and compensating people for the loss of livelihood. It is expected that the money would be available within a month. Mr Singh said Ernakulam district was ahead of other tsunami-affected districts in relief and rehabilitation works. It is expected that the construction of all the houses destroyed and damaged in the tsunami will be completed by the end of June. An amount of Rs 2.89 crore has already been sanctioned for construction of a sea wall. However, the work on the sea wall was yet to begin owing to the delay caused by the submission of new estimates. A sum of Rs 1.22 crore has been sanctioned for providing equipment to those who lost their fishing boats and nets in the tsunami.
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