New Delhi, Feb 11 The World Bank has approved $245 million in financing for the Resilient Action for Development and Disaster Recovery Himachal Pradesh Project, aimed at strengthening climate resilience and rebuilding critical infrastructure across the state.
Himachal Pradesh has faced nearly $1 billion in losses over the past three years due to extreme weather events, including heavy monsoon rainfall in 2023 and 2025. The disasters caused widespread damage to housing, roads, bridges, water supply and sanitation systems, while disrupting agriculture, horticulture, education and local livelihoods.
The project will benefit 2.3 million people by restoring and upgrading infrastructure using climate-resilient designs. Over one million women are expected to gain improved access to essential services and enhanced livelihood opportunities in farming, handicrafts and rural tourism.
Investments in community-owned enterprises will create or improve jobs for 12,000 people and expand market access for farmers, producers and artisans. The initiative will also mobilise $100 million in private capital for disaster-risk financing and insurance solutions.
In partnership with Agence Française de Développement and supported by the Coalition for Disaster Resilient Infrastructure (CDRI), the project will strengthen early warning systems and rehabilitate more than 250 bridges, roads and footbridges across the state.
The financing has a 16-year maturity period, including a 3.5-year grace period.
