The World Bank and India signed a loan agreement to enhance support for the Namami Gange programme that seeks to rejuvenate the Ganga river. The Second National Ganga River Basin Project will help stem pollution in the iconic river and strengthen the management of the river basin which is home to more than 500 million people.
Ganga is Indias most important cultural, economic and environmental resource, and the government’s Namami Gange program seeks to ensure that the river returns to a pollution-free, ecologically healthy state. The new project will extend the Government of India and World Banks engagement in this critical national programme to make the Ganga a clean, healthy river.
The $400 million operation comprises a loan of $381 million and a proposed Guarantee of up to $19 million. The agreement for the $381 million loan was signed today by Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Mr Qaiser Khan, Acting Country Director (India), on behalf of the World Bank. The Guarantee instrument will be processed separately.