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:
There is a country in Europe that is world-famous for its beautiful and colorful flowers.…
Uttar Pradesh is a state known for its rich culture, traditions and unique cities. Many…
Veteran BJP leader and former Union Minister Dr. Debendra Pradhan passed away on Monday in…
There is a city in the United States that is known for its fast growth,…
In a significant step towards strengthening healthcare infrastructure, the Delhi government will sign a Memorandum…
In a significant step toward strengthening India's air defence capabilities, Bharat Electronics Limited (BEL) has…