World Bank assistance Odisha : World Bank approves $100 million to increase social protection and disaster resilience in Odisha
The World Bank has approved a $100 million loan to the state of Odisha in India, to improve social protection programs and enhance the state’s resilience to natural disasters. The project, titled the “Odisha Disaster Resilience and Social Protection Program,” aims to benefit approximately 7.5 million people in the state, including the most vulnerable and marginalized communities.
The program will support the state government’s efforts to expand its social protection programs, including cash transfers, food subsidies, and pensions, to reach more eligible beneficiaries. The program will also help the government to develop a comprehensive disaster risk management framework, strengthen early warning systems, and improve infrastructure to better withstand natural disasters.
The loan will be provided to the state government on concessional terms, with a maturity of 30 years, including a grace period of 5 years. The program will be implemented over a period of 5 years, from 2023 to 2028.
Why this News is Important:
Improved Social Protection Programs for Vulnerable Communities
The approval of the $100 million loan by the World Bank to the state of Odisha is an important development for the people of the state, especially the most vulnerable and marginalized communities. The program will help the state government to expand its social protection programs, including cash transfers, food subsidies, and pensions, to reach more eligible beneficiaries. This will provide a safety net for the most vulnerable people in the state, including the elderly, widows, and disabled persons. By improving access to social protection programs, the program will also help to reduce poverty and inequality in the state.
Enhanced Disaster Resilience and Risk Management
The program will also support the state government’s efforts to develop a comprehensive disaster risk management framework, strengthen early warning systems, and improve infrastructure to better withstand natural disasters. This is particularly important for Odisha, which is prone to natural disasters such as cyclones, floods, and droughts. The program will help to reduce the impact of these disasters on people’s lives and livelihoods, and ensure that communities are better prepared to cope with future disasters.
Historical Context:
Natural Disasters in Odisha
Odisha is a state located in the eastern part of India, with a population of approximately 46 million people. The state is prone to natural disasters such as cyclones, floods, and droughts, which have caused significant damage to the state’s infrastructure, economy, and people’s lives over the years. In 1999, a super cyclone hit the state, causing widespread devastation and loss of life. Since then, the state government has taken steps to improve its disaster management capacity, including the establishment of an independent disaster management authority.
Social Protection Programs in India
Social protection programs are a key component of India’s welfare system, which aims to reduce poverty and inequality in the country. The government of India has launched several social protection programs in recent years, including the National Social Assistance Program (NSAP), which provides cash transfers to the elderly, widows, and disabled persons, and the Public Distribution System (PDS), which provides food subsidies to eligible households. These programs have helped to improve the living standards of millions of people in the country, especially the most vulnerable and marginalized communities.
Key Takeaways from “World Bank approves $100 million to increase social protection and disaster resilience in Odisha”
| Serial Number | Key Takeaway |
|---|---|
| 1 | The World Bank has approved a $100 million loan to Odisha to increase social protection and enhance disaster resilience. |
| 2 | The assistance will focus on improving the delivery of social protection programs and enhancing disaster risk management capacity in the state. |
| 3 | The assistance will support the implementation of Odisha’s disaster management plan and enhance its preparedness and response to natural disasters. |
| 4 | The assistance will help Odisha provide better social protection to vulnerable groups, including women, children, and the elderly. |
| 5 | The assistance will contribute to Odisha’s efforts to achieve the Sustainable Development Goals by promoting inclusive growth, reducing poverty, and enhancing resilience to natural disasters. |
Important FAQs for Students from this News
Q. What is the World Bank’s assistance to Odisha?
A. The World Bank has approved a $100 million loan to Odisha to increase social protection and disaster resilience in the state.
Q. What are the focus areas of the World Bank assistance to Odisha?
A. The World Bank assistance will focus on improving the delivery of social protection programs and enhancing disaster resilience in the state.
Q. What are the benefits of the World Bank assistance to Odisha?
A. The assistance will help Odisha provide better social protection to vulnerable groups and enhance its preparedness and response to natural disasters.
Q. How will the World Bank assistance be utilized in Odisha?
A. The assistance will be utilized to strengthen Odisha’s social protection delivery systems, enhance its disaster risk management capacity, and support the implementation of the state’s disaster management plan.
Q. How will the World Bank assistance contribute to the sustainable development of Odisha?
A. The assistance will support Odisha’s efforts to achieve the Sustainable Development Goals by promoting inclusive growth, reducing poverty, and enhancing resilience to natural disasters.
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