World Bank has approved a $400 million loan to the Government of India to assist it to further the ongoing Namami Gange programme to rejuvenate river Ganga by strengthening the management of river's basin which is home to more than 500 million people, reports Financial Express.
The project called "The Second National Ganga River Basin Project" (SNGRBP) was green-lighted by the World Bank's board of executive directors on 25 June.
The World Bank has been financing various projects to build sewage treatment infrastructure in multiple riverside towns and cities since 2011 to help the Indian government control the pollution levels in the river and restore its quality.
The first such project, the predecessor of SNGRBP had helped build sewage infrastructure in 20 pollution hotspots, and the latest financing for SNGRBP will further the progress made to Ganga's tributaries.
The loan from World Bank comes with a grace period of five years and a maturity period of 18.5 years.
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