Current Affairs

GOI signed $88 Million Loan Agreement with World Bank

Current context: The Government of India, the Government of Assam and the World Bank signed a loan agreement of $88 million on 16th January 2020.
GOI signed $88 Million Loan Agreement with World Bank 
  • The loan agreement has been signed for the implementation of Assam Inland Water Transport Project to help modernize Assam’s passenger ferry sector that runs on its rivers including the mighty Brahmaputra.
  • The Assam Inland Water Transport Project (AIWTP) will help Assam improve the passenger ferry infrastructure and its services, develop a modern, efficient and safe river transport system for the large volume of passengers and cargo.
  • With the help of World Bank, the government is creating an institutional framework that will mainstream Inland Waterways as a mode of transport.
  • The loan of $88 million from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14.5 years including a grace period of five years.

Question: 

Q.1 The Government of India has recently signed a loan agreement of $88 million with World Bank for the implementation of _____________ Inland Water Transport Project?  
a. Assam
b. Meghalaya
c. Bihar
d. Tripura
GOI signed $88 Million Loan Agreement with World Bank GOI signed $88 Million Loan Agreement with World Bank Reviewed by Neha Verma on January 17, 2020 Rating: 5

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