"The loan assistance (of USD 250 million) from the World Bank would be shared by Centre and the State Government on 90:10 basis and it would be operative for five years ending June 2020," an official spokesman said after the launch of the project here.
He said the loan assistance would not only comprise fund flow from the world body but also expertise to handle such projects and the necessary technological advancements as well.
The project was pursued by former Chief Minister, late Mufti Mohammad Sayeed, in the aftermath of devastating floods of 2014 in the State, the spokesman said.
Mehbooba, while launching the project, made it amply clear that her Government would pursue the vision and dream of late Chief Minister with all seriousness, he added.
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She hoped that the infrastructure to be raised in the project would be of world class and as per the guidelines of seismic and disaster management experts.
The works to be completed under the project include projects in core sectors like roads, bridges, hospitals and other infrastructure projects.
These works would be disaster resistant and in tune with strict expert guidelines, the spokesman said.
Component wise, the loan assistance would comprise re-construction and strengthening of critical infrastructure (USD 60 million), reconstruction of roads and bridges (USD 80 million), restoration of urban flood management infrastructure (USD 50 million), strengthening and restoration of livelihoods (USD 15 million), strengthening disaster risk management capacity (USD 25 million), contingent Emergency Response (US$0 million) and implementation support (USD 20 million).
The primary beneficiaries would be the communities in the State that were affected by loss of public service infrastructure.