August 20, 2023
1 min read

West Bengal to invest Rs 2,500 cr World Bank loan in infrastructure

Apart from overall infrastructure development, the official said the loan amount will be utilised for special training of the people engaged in the logistic sector….reports Asian Lite news

West Bengal government is taking a Rs 2,500 crore loan from the World Bank and the entire money will be utilised for the purpose of infrastructure development in the state.

Sources in the state finance department said the focus area of infrastructure development through utilisation of the loan amount will be improvement of road networks and water transport systems in the state.

“The government wants to emphasise on improving exports from the state in the next 10 years, for which it is necessary to develop a quick transit system. So, work on this count will stat before the forthcoming Bengal Global Business Summit scheduled in November this year,” said a senior official in the finance department.

Apart from overall infrastructure development, the official said the loan amount will be utilised for special training of the people engaged in the logistic sector.

The state government has already set a target for setting up four economic corridors covering an area of 930 km. Out of that, the longest corridor of 630 km will be in North Bengal and the remaining three will be in South Bengal.

“The development of these economic corridors will enable the state government to showcase Bengal in a better manner to the potential investors,” the official said.

Industry observers feel that while such initiatives are undoubtedly positive steps, no effort to attract big ticket investments will bear fruit unless the land and special economic zone policies of the state government are changed.

ALSO READ: China’s property woes deepen with Evergrande’s bankruptcy

Previous Story

Index of economic activity grows slowly at 1% in July

Next Story

Amazon joins creators payment trend, offers $25 per video

Latest from Business

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more
Go toTop

Don't Miss

SC may stay key provisions of Waqf (Amendment) Act

During the hearing, the bench said that it is considering

MoS Muraleedharan’s convoy attacked in WB

The incident took place when Muraleedharan accompanied by BJP state