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India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal

India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal
India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal 

India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal  

India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal : The Government of India, the Government of West Bengal and the World Bank signed a $105 million loan agreement project to improve the inland water transport infrastructure in Kolkata, West Bengal.

The Agreement Signed by - India, World Bank signs USD 105 Million Project to Improve Waterways in West Bengal

The agreement was signed by Dr. C S Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India; Shri Rajdeep Dutta, Deputy Resident Commissioner, on behalf of the Government of West Bengal; and Mr Junaid Ahmad, Country Director, India on behalf of the World Bank.

Benefits - India, World Bank signs USD 105 Million loan agreement Project to Improve Waterways in West Bengal

The project will cover the five most populous districts of southern West Bengal, including its urban agglomeration -- the Kolkata Metropolitan Area (KMA) where around 30 million people or one-third of West Bengal’s population live.

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In the first phase, the project will enhance the capacity and improve the safety of the Inland Water Transport system; including rehabilitating existing jetties, buying new ferries with enhanced design; and installing electronic gates in 40 locations. 

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In the second phase, it will support long-term investments for passenger movements, including in terminals and jetties; improve the design of the inland water transport vessels; ensure night navigation on the most hazardous and trafficked routes and crossing points; and encourage the private sector to invest in Ro-Ro vessels that will allow easier movement of trucks across the Hooghly river.

The $105 million loan from the International Bank for Reconstruction and Development (IBRD), has a maturity of 17 years, including a grace period of 7 years.

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