WB okays $50m for Sidr victims

The World Bank on Tuesday approved two new projects to benefit poor families affected by last year's cyclone Sidr, vulnerable children in urban slums, and people with disabilities in Bangladesh.
An amount of $50 million in additional financing for the Social Investment Programme Project (SIPP) is designed to help restore assets, and livelihoods for families affected by cyclone Sidr
The cyclone caused extensive damage to lives, property, livestock, and crops, with total damage and losses estimated at $1.7 billion.
SIPP, which has already benefited over 1,000 villages across Bangladesh, was identified as the best instruments for quickly channeling funds to support livelihoods restoration at the community level, according to a message received in Dhaka yesterday.
Xian Zhu, World Bank country director for Bangladesh, said, “This is one of the operations in a series of the World Bank's planned support to respond to government of Bangladesh's request for rehabilitation and reconstruction assistance in the aftermath of the cyclone.”
The two other interventions--a quick disbursing budget support that has already been approved and the longer-term support for disaster management, an emergency recovery credit-- are currently under preparation, he added.
After the devastating cyclone Sidr, the World Bank offered $250 million short, medium and longer- term support to help the millions of affected people to recover and to strengthen disaster mitigation systems.
Meena Munshi, World Bank senior economist and team leader for the project, said, “This project will provide them with financial resources to gradually restore their lives and livelihoods. It will also help in establishing community institutions, which in the longer term can identify, plan and carry out their own development priorities.”
The $35 million Disability and Children at Risk Project will support the government in expanding the coverage, use, and quality of social-care services for these vulnerable groups.
The project will also help build the capacity of NGOs, Disabled people's organisations, and government agencies that provide support to the disabled and their families, and advocates for greater disability awareness, inclusion, and empowerment.