Thiruvananthapuram: The representatives of German Development Bank (KfW) has signed an agreement with Kerala government to provide Rs 1,400 crore for reconstructing damaged roads in the state.
The bank will also shell out another Rs 25 crore grant for institutional capacity building.
The project, expected start by May 2020, will see Kerala State Transport Project building 800 kilometres of roads in five years.
KfW is to make bill based payments, meaning the bank will have their consultants to monitor the projects; payment will be made on their monitoring and sanction.
Meanwhile, World Bank has also agreed to provide $250 million development policy loan for the Rebuild Kerala initiative.