World Bank sanctions USD 400 million to enhance Namami Gange Programme

Video Credit: ANI
Published on July 7, 2020 - Duration: 02:24s

World Bank sanctions USD 400 million to enhance Namami Gange Programme

The World Bank and the Government of India on July 07 signed a loan agreement to enhance support for the Namami Gange Programme that seeks to rejuvenate the Ganga River.

The USD 400 million operation comprises a loan of USD381 million and a proposed guarantee of up to USD 19 million.

The agreement was signed between Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Qaiser Khan, Acting Country Director (India), on behalf of the World Bank.

The guarantee instrument will be processed separately.

The Second National Ganga River Basin Project will help stem pollution in the iconic river and strengthen the management of the river basin, which is home to more than 500 million people.

Under the Namami Gange Programme, 313 projects have been sanctioned till March 2020 at a total cost of Rs 28,966 crore in different sectors.

The National Ganga River Basin Project (NGRBP) is an important component of Namami Gange.

A World Bank-funded National Ganga River Basin Project (Ganga -I) for an amount of USD600 million (Rs 4,535 crore) is currently ongoing and is approved up to December 31, 2021 for funding infrastructure projects of pollution abatement in the river Ganga.

The loan would be for a period of five years up to December 2026.

The World Bank has been supporting the government's efforts since 2011 through the ongoing National Ganga River Basin Project.

The USD400 million operation includes a proposed guarantee of up to USD19 million to backstop the government's payment obligations for three Hybrid-Annuity-Model Public-Private Partnership (HAM-PPP) investments on the Ganga's tributaries.


You are here

Related videos from verified sources

Businesses abandoned as Covid-19 decimates tourism industry in Bangkok 03:21
Video credit: Newsflare - Published on July 27, 2020 

Rajasthan will move ahead by developing skills among youth: CM Gehlot 01:25
Video credit: ANI - Published on July 18, 2020 

World Food Programme set to feed thousands of households in Nigeria 05:45
Video credit: Newsflare - Published on July 6, 2020 

You might like