World Bank approves loan for Indian waterway projectProject Updates // April 21, 2017
The World Bank has approved a US$375 million loan for an Indian waterway project. The National Waterway 1 project will create a water transport fairway on a 1,360km stretch of the Ganga river between Varanasi and Haldia.
“NW1 passes through one of India’s most densely populated areas, and a sizeable 40 per cent of the country’s traded goods either originate from this resource-rich region or are destined for its teeming markets. While the region generates about 370 million tonnes of freight annually, only about 5 million tonnes currently travels by water,” said the World Bank.
It noted that 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 ro-ro 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 River Information System as well as navigation aids to make transport on the river safer and more reliable.