World Bank sanctions Rs 770 cr for Inland Water Transport Department

World Bank sanctions Rs 770 cr for Inland Water Transport Department

Assam Chief Minister Himanta Biswa Sarma said the Inland Water Transport (IWT) department has signed a Memorandum of Understanding (MoU) with the World Bank for a Rs 770 crore loan to improve river transportation in the State. The Central Government would refund 80 per cent of the sanctioned amount and the State Government would bear the remaining 20 per cent, the chief minister said while flagging off four steel catamaran vessels at Pandu Port recently. The catamaran vessels were launched under a World Bank-funded project to integrate high-quality passenger and vehicle ferry services into the state’s wider transport network system.

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