The Inland Water Transport (IWT) Department has signed an MoU with which of the following for a Rs 770 crore loan to improve river transportation in Assam?

The correct answer is World Bank. Key Points The Inland Water Transport (IWT) Department has signed an MoU with the World Bank for a Rs 770 crore loan to improve river transportation in Assam. The central government would refund 80 per cent of the sanctioned amount and the state government would bear the remaining 20 per cent. This was announced by CM Himanta Biswas while flagging off four steel catamaran vessels at Pandu Port. Important Points The catamaran vessels were launched under a World Bank-funded project to integrate high-quality passenger and vehicle ferry services into the state’s wider transport network system. Out of the four vessels, two will ply over the river Brahmaputra at Majuli and one each in between Guwahati-North Guwahati and Uzanbazar -Umananda ferry ghats. The newly launched vessels have the capacity of carrying 100 passengers and 50 two-wheelers and are powered with 180 HP twin engines which can travel at a speed of 10 knots forward speed. The vessels have advanced equipment such as control and monitoring, communication and navigation, GPS, wind measurement, lifesaving, and firefighting equipment. Additional Information World Bank: Headquarters - Washington, D.C., United States. President - David Malpass. Comprises of - The International Bank for Reconstruction and Development and The International Development Association.