India’s loan agreement with World Bank for EDFC-III project.

Q.  India on 21st Oct signed a USD 650 million loan agreement with which organisation for the Eastern Dedicated Freight Corridor III?
- Published on 24 Oct 16

a. World Bank
b. Asian Development Bank
c. New Development Bank
d. None of the above

ANSWER: World Bank
 
India’s loan agreement with World Bank for EDFC-III project.India on 21st Oct 2016 signed a USD 650 million dollar loan agreement with World Bank for the Eastern Dedicated Freight Corridor III project
  • This project will benefit industries of Eastern and Northern India which rely on railway network for transportation of material inputs and exports
  • Industries will depend on railway network for transportation for the distribution of bulk processed and semi-processed commodities and consumer goods
  • Railway passengers will be benefited through decongestion of existing passenger lines
  • The EDFC-III project was set to augment rail transport capacity, improve service quality and enhance freight carriage through a 401 km Ludhiana Khurja section of the Eastern Dedicated Freight Corridor

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