Assam: World Bank, Centre sign $88 mn loan agreement for inland water transport project

The central government, Assam government and the World Bank signed a loan agreement of USD 88 million on Thursday to help modernise Assam's passenger ferry sector that runs on its rivers including the Brahmaputra. The project will support the Assam government's efforts to corporatise its own ferry activities. Assam has the largest network of navigable waterways in India. The Government of Assam has taken on the challenge of modernizing the ferries sector which, though vital to the state, remains largely informal. 

A Finance Ministry release said a majority of Assam's more than 361 ferry routes cross the Brahmaputra or serve its islands, providing a crucial means of transport to thousands of commuters in both the urban and rural areas of the Brahmaputra Valley. The release said Assam government has taken the challenge of modernising ferries sector which, though vital to the state, remains largely informal.

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Finance Ministry release

"Technically better-designed terminals and energy-efficient vessels (both new and retrofitted) will make the ferry services more sustainable with the least disruption to nature. It provides low-carbon and low-cost options when compared to the cost of constructing and maintaining flood-resilient roads and bridges across the long stretches of the Brahmaputra river," the release said.

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The Assam Inland Water Transport Project (AIWTP) will help Assam improve the passenger ferry infrastructure and its services and strengthen the capacity of institutions running the inland water transport, the release said.

According to reports, the loan agreement was signed by Sameer Kumar Khare, additional secretary, department of economic affairs, ministry of finance and Junaid Kamal Ahmad, country director (India), World Bank. The Assam Shipping Company (ASC) will operate the government ferries and the Assam Ports Company (APC) will provide terminals and terminal services on a common-user basis to both public and private ferry operators.

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(with ANI inputs)

(image: ANI)