Thiruvananthapuram : German Development Bank will provide funds for reconstructing roads battered by floods, that hit the state last year.
The agreement, pertaining to this, was signed between the govt and the German bank, in the presence of Chief Minister Pinarayi Vijayan.
The project is estimated to cost Rs 1800 crore of which, the German Development Bank will provide Rs1400 crore. Additionally the bank will also give Rs 25 crore towards enhancing institutional productivity and capacity utilisation.
Kerala had submitted Rebuild Kerala Development report to the Finance Ministry, in October last year
Subsequently, the Central government held talks with the German bank and signed the agreement with the German Bank representatives on 30 October.
Co-signing the document with bank representatives, took place yesterday, 7 Nov,.
Those present alongside the Chief Minister comprised, Minister for Public Works, G Sudhakaran, Chief Secretary Tom Jose, Principal Secretary R K Singh, the bank's India Mission team head Carley Berke, Frankfurt Urban Development German Manager, John Albert and Delhi Urban Development Senior Sector Specialist, Kiran Avadharun.
The project scheduled to complete in 5 years and will reconstruct 31 roads, spanning 800 km.
The project's reconstruction works, due to commence by May 2020, will be carried out by KSTP(Kerala State Trasport Project).
