New Delhi: In order to renovate Indian Railways, the World Bank has granted $ 245 million and the International Bank for Reconstruction has been instructed to provide a loan. It also gives a 22 years tenure along with an additional 7 years.
The Rail Logistics Project is all about reducing the greenhouse gas emissions, simplifying transportation, and integrating rail transport into goods transport networks that improves the ability and efficiency of the private sector.
Such an amalgamation with a vast logistics network will definitely reflect in the nation’s global standards, and it will also remove the existing traffic blocks due to freights, said the Indian Director of the World Bank.
India has the fourth largest railway network in the world. As of March 2020, it was delivering 1.2 billion tons of goods. Among that, 71 per cent by road and 17 per cent by rail.
Around 95 percent of carbon is being produced by the goods supply chain. One-fifth of the greenhouse gas emissions are through the rail networks.
It is the aim of the Ministry of Railway, to make the railway carbon free by 2030. To achieve this goal, 7.5 tons of carbon dioxide and greenhouse gases will be removed annually.
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