WB APPROVES LOAN TO MODERNISE INDIA'S RAILWAY LOGISTICS INFRA

The World Bank has approved a $245 million loan to support India's efforts to modernise rail freight and logistics infrastructure.

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The rail logistics project will help India shift more traffic from road to rail, making transport both freight and passenger - more efficient and reducing millions of tonnes of greenhouse gas emissions (GHG) each year. The project will also incentivise more private sector investment in the railway sector.

Indian Railways is the fourth-largest rail network in the world having transported 1.2 billion tonnes of freight in the fiscal ending March 2020. Yet, 71% of India's freight is transported by road and only 17 per cent by rail.