India, World Bank ink $375 mn deal to help develop country's first waterway

The Union government and the World Bank have signed a $375 million loan agreement for developing country's first modern inland waterway on the river Ganga between Varanasi and the seaport of Haldia. The 1,360 km-stretch of the waterway will bring thousands of jobs in cargo logistics and transportation to one of the most populous regions in the country.

The project would facilitate the Inland Waterways Authority of India (IWAI) to put in place infrastructure and navigation services needed to develop the waterway -- known as National Waterway 1 -- as an efficient logistics artery for northern India, the World Bank