World Bank team calls on Kashmir Inc

World Bank team calls on Kashmir Inc

The World Bank team arrived here on Tuesday to review the damage caused by the floods in Kashmir.

As part of its exercise to assess flood losses in Jammu and Kashmir, a World Bank delegation presently in the town Wednesday met members of KCCI.

The chamber members led by KCCI president Sheikh Ashiq apprised the visiting WB team of the devastation the September floods caused in Kashmir.

Giving details of the meeting, Ashiq said the chamber gave a detailed estimate of losses suffered by different sectors of economy in Kashmir.  “From horticulture to retail, agriculture to wholesale segments and tourism and other sectors, we gave a detailed estimate of losses to the team and underlined the scope for the World Bank intervention to support state economy,” Ashiq said.

The World Bank team arrived here on Tuesday to review the damage caused by the floods in Kashmir. The team headed by Saurab Dhani is carrying out assessment of the damages caused to the public and private infrastructure in the state due to the floods. 

The WB, according to sources, has proposed to extend credit to Union Finance Ministry for onward devolution to J&K. “WB can’t directly lend money to the State. The funds would be given to the centre government for subsequent disbursement to Jammu and Kashmir government,” an official said.