Thiruvananthapuram: The World Bank has informed that it is willing to give loan for rebuilding Kerala after the flood havoc. The decision was taken in the discussions conducted by the chief secretary and department secretaries with World Bank representatives. They have also promised to simplify the procedures for taking loan.
Money will be given for the schemes of drinking water, drainage, education and transport facilities. The state has to formulate the schemes. It should also get the schemes approved by the Centre.
Usually, it will take three years for the World Bank to provide loans. The representatives of bank have informed that they will fasten the procedures considering the situation in Kerala.
The bank representatives will conduct a discussion with the chief minister in the evening.
Another thing that Kerala must do to get the financial assistance from the World Bank is to increase the limit of the loan amount. Currently, the state can take only 3 per cent of the domestic production. The state has requested the Centre to increase the limit to 4.5 per cent.