World
Bank Group approves $ 400 million for SECOND National River Ganga Basin Project
(SNGRBP):
Board of Executive Directors of the
World Bank Group has approved a loan of $400 million for the rejuvenation of
the Ganga River under the NAMAMI Ganga Program of the Government of India. The
loan approve by the World Bank group is for strengthening the river basin.
In 2015, the World Bank group has approved USD
1 billion for the first National River Ganga Basin Project. The loan approved
for $400 million is for the Second National River Ganga Basin Project (SNGRBP).
Lending arm of the World Bank Group-
International Bank for Reconstruction and Development (IBRD) will be
sanctioning the loan amount. $381 million is the loan amount that will be
sanctioned by IBRD while $19 million is for the IBRD payment Guarantee for
the loan amount.
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