Patna (PTI): The multi-purpose Kosi Rehabilitation and Reconstruction Policy-2008 aimed at providing means of livelihood, community facilities and reconstructing houses of flood victims has got the state cabinet's nod.

The state cabinet cleared the Rs 14,808.95-crore project on Tuesday, Cabinet and Coordination Secretary Girish Shanker said on Wednesday.

Money from Calamity Relief Fund and various other components of Central and state schemes will be used in the project.

For successful implementation of the policy, the state would go for multilateral funding besides involving private sector and Non-Government Organisations (NGO), Shanker said.

The cabinet also approved a committee on Kosi Rehabilitation and Reconstruction, to be headed by Bihar Chief Minister Nitish Kumar, for sanctioning schemes and policy matters.

Vast swathes of north Bihar was flooded this year after water from Kosi river swamped the area following a breach in the embankment at Kusaha in Nepal.