- State clears Landmark Disaster Financing Programme, backed by World Bank
Mumbai: The Maharashtra Cabinet, chaired by Chief Minister Devendra Fadnavis, has approved the implementation of the Maharashtra Responsive Development Programme (MRDP), introducing an innovative disaster financing framework aimed at improving resilience against natural calamities.
As part of the initiative, a new concept titled the “Maharashtra Resilience Financing Programme” will be rolled out. The programme will utilize financial assistance of ₹165 crore from the World Bank to support citizens affected by disasters.
Under the scheme, disaster-affected individuals will receive relief through housing loan concessions, while micro, small, and medium enterprises (MSMEs) in impacted regions will benefit from easier access to credit and insurance coverage. The programme also aims to support workers in the informal sector, women entrepreneurs, and small businesses across sectors such as construction and services.
To ensure effective implementation, a dedicated execution unit will be established at the Maharashtra Institution for Transformation. This unit will play a key role in enhancing the response capacity of administrative systems at the state, district, and city levels, particularly during disasters such as floods, heatwaves, and cyclones.
Focused interventions are planned for flood-prone regions, including Kolhapur, Sangli, and Ichalkaranji, as well as the Krishna river basin. Preventive and mitigation plans will be developed to reduce flood risks in these areas.
The Maharashtra Soil and Water Conservation Corporation will act as the project implementation agency for works related to the Krishna and Panchganga river basins in Kolhapur and Sangli districts. Additionally, a project evaluation committee will be set up under the joint chairmanship of the state’s Ministers for Disaster Management and Water Resources to oversee the programme.
The initiative marks a significant step toward integrating financial resilience with disaster management, aiming to provide faster relief and long-term stability to vulnerable communities across Maharashtra.
