The Financing Agreement for World Bank (IDA) assistance of US$ 104.00 million for Additional Financing under National Cyclone Risk Mitigation Project-I (NCRMP-I) was signed between Government of India and the World Bank.

 The Financing Agreement was signed by Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and Mr. John Blomquist, Program Leader and Acting Country Director in India, on behalf of the World Bank. The Project Agreement for State of Odisha was signed by Mr. G.V.V. Sarma, Principal Secretary (Disaster Management), & Managing Director, Odisha State Disaster Management Authority (OSDMA) on behalf of the Government of Odisha. The Project Agreement for the State of Andhra Pradesh was signed by Mr. J. C. Sharma, Principal Secretary (Disaster Management), Department of Revenue, on behalf of the Government of Andhra Pradesh.

 The objective of Additional Financing under NCRMP-I is to reduce the vulnerability of coastal communities to cyclone and other hydro meteorological hazards in Andhra Pradesh and Odisha. The Additional Financing under NCRMP-I, through its different components, will provide both direct and indirect benefits to the coastal communities in the States of Andhra Pradesh and Odisha. It would also provide improved access to emergency shelter and evacuation against wind storms, flooding and storm surge in high risk areas currently not covered by the original project (NCRMP-I).

 The project has four components: (i) Early Warning Dissemination System (EWDS) and Capacity building for coastal communities; (ii) Cyclone Risk Mitigation Infrastructure; (iii) Technical Assistance for National and State Level Capacity Building on Disaster Risk Management; and (iv) Project Management and Implementation Support.

 The project is implemented by the Ministry of Home Affairs through National Disaster Management Authority (NDMA). At the State level, it is executed by the respective State Disaster Management Authorities.

Cyclone risk mitigation financing expands support to coastal communities, enhancing shelters, early warning and state DRM capacity. A financing agreement between the Government of India and the World Bank provides additional funds for the National Cyclone Risk Mitigation Project-I to reduce coastal community vulnerability in Andhra Pradesh and Odisha by extending coverage to high-risk areas. The funding supports four components: Early Warning Dissemination System and community capacity building; Cyclone Risk Mitigation Infrastructure; Technical Assistance for national and state disaster risk management capacity building; and Project Management and Implementation Support, implemented through central and state disaster management authorities.