World Bank to provide Rs 24.23 billion loan for NW-1

The World Bank’s board approved a loan of Rs 24.23 billion ($375 million) for capacity augmentation of National Waterway-1 on April 12, 2017. The loan will be provided by the International Bank for Reconstruction and Development. It has a grace period of seven years and a maturity of 17 years. The loan will be used to finance the construction of six multimodal terminals, 10 roll-on, roll-off jetties, ship-repair facilities as well as passenger jetties along the Ganga river.