Support for modernising India’s railways
The World Bank’s board has approved a USD 245 million loan to support India’s efforts to modernise railfreight and logistics infrastructure.
The rail logistics project will help India shift more traffic from road to rail, making transport—both freight and passenger—more efficient and reduce millions of tonnes of greenhouse gas emissions each year. The project will also incentivise more private sector investment in the railway sector, the institution said.
Indian Railways is the fourth-largest rail network in the world having transported 1.2 billion t of freight in the fiscal year ending March 2020. Yet, 71% of India’s freight is transported by road, and only 17% by rail. (ben)