‘Significant progress in project in past 2 ½ years’
By: Ibni Maqbool
Srinagar: In a significant move, the World Bank has extended the deadline for completion of Rs 1500 Crore Jhelum-Tawi flood recovery project (JTFRP) by another six months.
Documents in possession of The Precious Kashmir reveal that the WB has given its nod to extension of closing date of the project from June 30, 2022 to December 2022.
The multilateral financial institution extended the deadline by another six months after the project fully achieved or exceeded the agreed milestones set under the action plan for an additional 6-month extension.
In June 2021, in response to Government of Jammu and Kashmir’s request for an 18-months extension of the closing date, a two-phase extension was agreed.
As a result, in accordance with Waiver of Provisions of World Bank Directive for Investment Project Financing, Section III, paragraph 50, an initial extension of 12-months was granted, extending the closing date to June 30, 2022.
Simultaneously, it was agreed at the time that subject to achievement of the action plan milestones, a further extension of the closing date by six months i.e., up to December 31, 2022, could be considered.
With this, the original closing date has been extended by a cumulative total of 30 months.
According to the WB documents, the project has shown significant improvement in performance in the past two-and-a-half years.
“Despite continued challenges and disruptions, the project has significantly improved its performance over last two and half years with remarkable progress in transport, education, urban flood management, livelihood recovery, and disaster preparedness and response capabilities,” reads the documents.
The project was sanctioned after 2014 floods by the WB .The project is financing major infrastructure investments including roads, bridges, hospitals, schools, and drainage system improvements.
This is the only WB-funded project in Jammu and Kashmir (J&K) and is crucially important for building disaster resilience in project areas that are highly vulnerable to disasters and improving flood protection infrastructure in Srinagar. The project is also part of the Prime Minister’s Development Package for J&K.