The Inland Waterways Authority of India (IWAI) is exploring various funding options to take up development work of inland waterways once Parliament passes the Inland Waterways Bill. ¨As a part of taking on preparatory work, one of the options of government funding that IWAI is talking about includes accessing funds from multilateral institutions, such as Asian Development Bank, World Bank, and BRICS; and accordingly structure projects,¨ Amitabh Verma, Chairman, IWAI, said at an event organised by industry chamber PHDCCI.
The option of a consortium of leading financial institutions – both domestic and overseas – is being conceived to part finance close to 101 inland waterways to facilitate faster and economic cargo movement across India, a PHDCCI release said. Government funding can be done either through budgetary support, multilateral funding, or market borrowings.
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