For the implementation of Assam Inland Water Transport Project, the Government of India (GoI), the Government of Assam and the World Bank have signed a $88 million loan agreement. The loan agreement seeks to modernize the Assam’s passenger ferry sector by improving the infrastructure and its services. The government ferries are operated by the Assam Shipping Company (ASC) while the terminals and terminal services are provided by the Assam Ports Company (APC) in the state of Assam.
The International Bank for Reconstruction and Development (IBRD) will provide the loan amount of $88 million for the modernization of Assam Inland Water Transport Project. The loan has a final maturity of 14.5 years with a grace period of 5 years.
The $88 million agreement will provide technically better designed terminals and energy-efficient vessels to make the ferry services more efficient, modern and safe mode of river transport system. The ferry services will benefit both the passengers as well as the cargo carried by the vessels.
The modernization of the ferry services with the increased efficiency will also led to low-carbon emission and is a more sustainable mode of transport. The above mode of transport is also an low cost option in comparison with the construction and maintenance of flood-resilient roads and bridges across the Brahmaputra river.
Important takeaways for all competitive exams:
Dr. Manmohan Singh, a brilliant economist and statesman, served as the 13th Prime Minister of…
India continues to establish itself as one of the leading global economies in 2024, with…
Indian public sector banks (PSBs) have reported strong profitability, with a 25% increase in net…
Nvidia has recently announced the launch of its Jetson Orin Nano Super Generative AI supercomputer,…
Osamu Suzuki, the long-serving chairman and CEO of Suzuki Motor Corporation, passed away at the…
On Good Governance Day, Dr. Jitendra Singh launched the ‘Viksit Panchayat Karmayogi’ initiative, aiming to…