Cabinet gives nod to Rs 1500 Cr World Bank aid

The project envisages reconstruction of infrastructure, disaster management  The Cabinet approved the proposal of the Relief & Rehabilitation Department for availing World Bank assistance of USD 250 million (Rs 1500 crore approx) for the Jhelum Tawi Flood Recovery Project (JTFRP) and for signing of the Subsidiary Agreement with the Department of Economic Affairs, Government of India for it. The Cabinet met here under the chairmanship of Chief Minister, Mufti Mohammad Sayeed. After September 2014 floods, the state government had separately sought a credit line facility from World Bank under the…

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