Germany offers financial support of Rs 720 Cr to rebuild Kerala

Financial aid in the form of grants, low interest loans and investment in specific projects will be provided to rebuild Kerala.
Germany offers financial support of Rs 720 Cr to rebuild Kerala
Germany offers financial support of Rs 720 Cr to rebuild Kerala
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The German government has offered help in the form of grants, loans at low rates of interest and by participating in specific projects to rebuild Kerala which was devastated after the worst ever floods in August, a diplomat said here on Friday.

Addressing the media, Martin Ney, the German Ambassador to India, said Germany was ready to support the state by contributing to the "Rebuild Kerala" initiative.

"We have had talks with the Centre and have offered to provide up to Rs 720 crore under low interest loans to promote climate-resilient reconstruction of bridges and roads in Kerala," Ney said.

"Along with this, we will extend a Rs 24 crore grant for technical support that will provide international expertise in the field of infrastructure planning.

"The support for infrastructure development will be through the German Development Bank KfW, who will ink an agreement with the Kerala government," the diplomat added.

He said the talks with the Centre took place in Delhi last week when they decided to include Kerala in discussions about 190 different projects that Germany was supporting in various states.

On future projects in Kerala, the German government is also working on a study on floating solar sites at two dams in the state.

"That study is in its last stages and in addition to it, they will be offering their support to the state's solar rooftop programme that is currently being prepared. Our support will come in the form of finances at concessional rates," Ney said.

"The other programme is a Rs 40 crore grant funded project that will be done at selected 43 places which will help reduce vulnerability to climate change of small farmers through watershed development projects."

Kerala faced the worst floods of the century this year with losses in property and infrastructure running up to several hundred crores. The Centre on Thursday released Rs 3048 crore as financial aid for relief and rehabitilation in the state following the floods. The funds which will be released by the National Disaster Response Fund and will include the Rs 600 crores that was given as immeidate relief earlier.  

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