ISLAMABAD, Dec 23 (APP):The National Disaster Risk Management Fund (NDRMF) on Monday signed an agreement with the government of Azad Jammu and Kashmir (AJK) for extending grant financing up to Rs 432.56 million for their landslide risks mitigation project in different districts of Poonch Division.

The Tripartite Grant Implementation Agreement was signed here at NDRMF Office by NDRMF’s General Manager, Projects and Operations Group Khurram Khaliq Khan; Secretary Communication and Works (C&W) Department, AJK Government, Ghulam Bashir Mughal and Additional Chief Secretary, Planning and Development Department, AJK Government, Dr. Syed Asif Hussain.

The NDRMF is a not-for-profit company incorporated with the Securities and Exchange Commission of Pakistan, under Section 42 of the Companies Ordinance 1984. It is a government-owned non-banking financial intermediary with a corporate structure.

The project is designed to mitigate landslide risks at major roads in Poonch Division besides providing an uninterrupted flow of traffic, ensuring safe journey and boosting tourism activities in AJK.

During the 22-month-long project, several interventions will be carried out including reduction of vulnerabilities to the negative impacts of landslides, securing land (agriculture/non-agriculture), sustaining communication between adjoining and forward areas, ensuring access to services, food transport and livelihood for income-generation purposes, and securing public and private property including land, machinery and forests from hazards of landsliding.

The total cost of the project is Rs 619.91 million, of which NDRMF will finance 69.77 percent up to Rs 432.56 million where as AJK’s 30.23 percent contribution will be Rs 187.36 million.

The project will protect 331,563 individuals vulnerable to the negative impacts of landslides and also make them resilient. In addition, 12.29 hectares of land (agriculture/non-agriculture) will be stabilized. The proposed interventions are in line with National Disaster Management Plan (NDMP).

Previously, NDRMF has also partnered with various government and non-government entities for extending grant financing to their projects on disaster risk reduction and preparedness.