Railways gets $245-mn World Bank loan to cut logistics project's emissions

Bid to help India reduce emissions through logistics project

The World Bank on Thursday approved a $245-million loan for the rail logistics project to help reduce India’s high carbon emissions and low modal freight share in the railways.

“The project will help India shift more traffic from road to rail, making transport — both freight and passenger — more efficient, and reduce millions of tonnes of greenhouse gas emissions (GHG) each year. The project will also incentivise more private sector investment in the sector,” the multilateral financial institution said.

The loan, financed through the International Bank for Reconstruction and Development, has a maturity of 22 years, including a grace