Germany offers Kerala Rs 720 crores loan for post-flood rebuilding

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Trivandrum: The Federal Republic of Germany has come out with a massive aid package to support the climate-resilient rebuilding of Kerala’s flood-shattered public infrastructure, which includes a nominal interest loan of Rs 720 crores (90 million Euro). The support will be implemented through the German Development Bank KfW.

The package, announced by German Ambassador to India HE Dr Martin Ney, also has a technical grant 3 million Euro (Rs 24 crores), which will be for providing international expertise to the state Public Works Department in climate-resilient infrastructure planning to reconstruct roads and bridges.

“Germany is ready to support Kerala during these challenging times and is pleased to contribute to the Rebuild resilient Kerala Initiative. According to my information, Germany is the only partner country to come out with bilateral aid (for Kerala’s rebuilding) so fast, and of such scale”, Dr Ney said. “The aim is not just to reconstruct, but to reconstruct in a much better way so that the roads and bridges in Kerala would be able to withstand the future disasters.”

The project was worked out bilaterally with the Government of India, as that is the standing procedure in such matters”, Dr Ney said, “The loan will be provided on a nominal rate and it has very good conditions. The next step is the signing of the loan agreement between KfW and Government of Kerala”.

Germany has an abundance of experience in providing technical expertise on the reconstruction of disaster-hit infrastructure since the country had tackled situations of river rising and flooding, he added.

In addition to this, Germany is financing a 117 million Euro (Rs 940 crores) integrated water transport system called ‘Water Metro’ in Kochi, through KfW. The project involves 15 identified routes connecting 41 boat piers/jetties across 10 island communities (about 500,000 inhabitants) with a 76 km route network. The entire water transport project is proposed to be fully operational by 2020.

Germany is also involved in Kerala in the field of Energy, Environment and Natural Resources including a project on ‘Watershed Development for Rehabilitation of Degraded Soils and Climate Change Adaption’.

Karl Philipp Ehlerding, Deputy Consul General of German Federal Republic, Bengaluru, and Dr Syed Ibrahim, Hon. Consul of the Federal Republic of Germany in Thiruvananthapuram was also present.

Anil Philip
Kerala Biz News

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