THIRUVANANTHAPURAM: The World Bank has sanctioned a loan of 1228 crores to Kerala to fix the distress due to natural calamities, epidemics, climate change, etc. The new loan was granted to Kerala in addition to the financial assistance of 125 million dollars granted earlier. It is estimated that around 50 lakh people who have faced flood damage will be benefited from these two projects.

The World Bank has assessed that Kerala is more prone to natural disasters and the effects of climate change. The loan was granted to solve the problems faced by Kerala in the recent past due to climate change including coastal erosion.

The money can be used for projects designed to prevent coastal erosion. The amount can also be used to formulate policies to assess current and potential coastal erosion in the future. The loan also aims to make Kerala more resilient to natural calamities with the help of technology.