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World Bank approves US 245 million loan to modernise India's railway infra

Friday, 24 Jun 2022
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The World Bank has approved USD 245 million loan to support India's efforts to modernise rail freight and logistics infrastructure. 
The Rail Logistics project will help India shift more traffic from road to rail. As much as 71 percent of India's freight is transported by road and only 17 percent by rail. 
The new project will also benefit passengers as railway lines get decongested with freight moving to dedicated lines. The new Eastern Dedicated Freight Corridor-3 (EFDC) is also supported by the World Bank. 
The loan from the International Bank for Reconstruction and Development (IBRD) approved by the World Bank's Board of Executive Directors has a maturity of 22 years, including a grace period of seven years.
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