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Karnataka Seeks Rs.5,000 Crore World Bank Aid for Disaster Resilience

2024-11-05

To strengthen Bengaluru's status as a global IT-BT hub while addressing its vulnerability to natural disasters, the Karnataka government has sought Rs.50 billion in financial assistance from the World Bank under a proposal called the Disaster Resilience Initiative. Of this, Rs.35 billion is earmarked for Bengaluru, with the remaining Rs.15 bilion allocated for disaster-prone cities like Belagavi and Mangaluru.

According to government officials, Rs.25 billion will go to the Bruhat Bengaluru Mahanagara Palike (BBMP) for modernising the city’s stormwater drains, which have been neglected for two decades, leading to an increased risk of flooding. Another Rs.10 billion will be directed to the Bengaluru Water Supply and Sewerage Board (BWSSB) for building new sewage treatment plants to enhance the city's sanitation infrastructure.

The World Bank has given in-principle approval for the proposal, with final approval expected by February 2025. This funding request is part of a larger Rs.1.3 lakh crore development plan aimed at improving the quality of life in Bengaluru, attracting private sector investment, and cementing the city’s reputation as a global business and technology hub.