The centre is taking up a massive World Bank-assisted project that aims at reducing the vulnerability of the people living in the cyclone-prone costal areas of Odisha and Andhra Pradesh.
The union cabinet today approved the implementation of Phase I of the National Cyclone Risk Mitigation Project (NCRMP) that would cover the two states of Andhra Pradesh and Odisha, at an estimated cost of Rs1,496.71 crore.
The project aims at minimising the vulnerability of people living in the coastal areas, especially the poor, to cyclones and making the infrastructure in the areas disaster resilient.
The project is the first disaster risk mitigation initiative, to be implemented in the country to reduce loss of life and property in the event of future calamities, an official release said.
The World Bank will provide financial assistance equivalent to Rs1,198.44 crore while the two state governments of Andhra Pradesh and Odisha will provide the remaining Rs298.27 crore.
The project will put in place upgraded cyclone forecasting, tracking and warning systems while also improving cyclone risk mitigation and building capacity in multi-hazard risk management.