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Friday, May 20, 2005

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World Bank package for tsunami-affected

Staff Reporter

Rs 180-crore relief, a `soft credit'

TSUNAMI RELIEF: Michael Carter, World Bank's Country Director for India, handing over a copy of the agreement of the bank's emergency tsunami reconstruction project to the Chief Minister, N. Rangasamy in Pondicherry on Thursday. — Photo: T. Singaravelou

PONDICHERRY: The Rs 180-crore World Bank assistance for the reconstruction of tsunami-hit areas in the Union Territory was launched today.

The Bank's Country Director for India, Michael F Carter, launched the programme by handing over a copy of the project agreement, entered between the World Bank and the territorial government, to Chief Minister, N. Rangasamy at a function here.

The financial assistance package, for which the agreement was signed at Delhi on May 12, comes as `a soft credit' that has to be repaid in 25 years.

The project involves housing for fishermen, infrastructure development, restoration of livelihood, developing the fishing harbour, upgradation of fishing methods and reclamation of agricultural land. The Relief Commissioner, B.V. Selvaraj said the entire package has an in built mechanism for `expanding the financial assistance if the need arise.'

Umbrella agency

In order to implement the project and monitor its progress the government has constituted an umbrella agency, Project Implementing Agency (PIA), giving it the status of a society under the Societies Registration Act, 1860. The Chief Minister later told reporters that soon a meeting of all concerned will be called to kick start the process.

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