Q. The World Bank (WB) has approved how much amount of loan to help India develop its first modern waterway?
Answer: $375 million
Notes: The World Bank (WB) has approved a $375 million loan to India’s first waterway project “National Waterway (NW) 1”. The waterway project is to create a water transport fairway on a 1,360-km stretch of the Ganga River between Varanasi and Haldia. The project will help build the infrastructure needed to develop water transportation in the area. It will finance the construction of six multi-modal terminals, 10 RORO jetties, ship-repair facilities as well as passenger jetties along the river. It will also help modernise the ageing Farakka lock and add a new lock to allow for smoother passage of boats. The project will also help the Inland Waterways Authority of India acquire a state-of-the-art River Information System as well as navigation aids to make travel on the river safer and more reliable. The US$375 million loan from the International Bank for Reconstruction and Development (IBRD) has a 7-year grace period and a maturity of 17 years.
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