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World Bank approved Loan for Kerala

Published on June 28, 2021
Current Context: The World Bank has approved USD 125 million assistance support to Kerala.
World Bank approved Loan for Kerala
  • The loan amount will be used to support the state’s preparedness against natural disasters, climate change impacts, diseases and pandemics.
  • The loan amount is granted to support the financially Resilient Kerala Program.
  • The program will perform disaster risk planning, healthcare support, water resource management, agriculture and many other areas.
  • In the first phase, the loan amount will be used for disaster risk planning and then in the second phase, it will be used for healthcare support, water resource management and agriculture.
  • The World Bank has granted the loan through International Bank for Reconstruction and Development (IBRD).
  • The loan will be having a maturity of 14 years with a grace period of 6 years.
  • Static Part: 
    • HQ of World Bank: Washington DC, USA
    • President of World Bank: David Malpass
    • CM of Kerala: Pinarayi Vijayan
    • Governor of Kerala: Arif Mohammad Khan

Question: 

Q.1 Which financial organisation granted a loan to the Kerala of USD 125 million to support the state’s preparedness against natural disasters, climate change impacts, diseases and pandemics?
a. World Bank
b. Asian Infrastructure Investment Bank
c. Asian Development Bank
d. International Monetary Fund
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