The World Bank has approved a $375 million loan to India’s first inland water transport fairway National Waterway 1 (NW1) project on a 1,360 km-stretch of the Ganga river between Varanasi and the seaport of Haldia for bringing thousands of jobs in cargo logistics and transportation.
The Capacity Augmentation of National Waterway 1 (Jal Marg Vikas) Project will help save more than 150,000 tons of CO2 equivalent in greenhouse gas emissions annually by moving cargo away from fossil fuel-consuming road and rail networks.
Takeaways from above News-
- World Bank has approved a $375 million loan to National Waterway (NW1)
- The NW 1 project is to create a water transport fairway on a 1,360-km stretch of the Ganga river between Varanasi and Haldia
- Haldia Port is situated in West Bengal
- World Bank CEO is Kristalina Georgieva and its Headquarter is in Washington, D.C., U.S.A
- World Bank was founded in 1944.
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Source- Business Standard