India has remarkable potential of 14,500 km of navigable waterways. However, only 4,300 km comprising five waterways have been designated as National Waterways. Realising the exponential growth in this sector in the coming years, the government in the year 2016 has, under the National Waterways Act 2016, declared an additional 106 inland waterways which brings the total number of National Waterways to 111.
Tag: International Development Association
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World Bank to continue concessional aid to India
Though India is no longer eligible for concessional development funds, the World Bank is working on a special dispensation to the country to maintain financial support to India. India receives the bulk of funds from the World Bank through International Development Association (IDA), the development bank's fund for the poorest, and International Bank for Reconstruction and Development (IBRD).