Railways borrowed over Rs 12,000 crores from World Bank: Ashwini Vaishnaw

Railway Minister Ashwini Vaishnaw in a written reply on Friday stated in Rajya Sabha that the Ministry of Railways has taken a long-term loan of US$ 1775 million (approx Rs 12,543 crore) from World Bank for the construction of the Eastern Dedicated Freight Corridor.

New Delhi: The Union Government on Friday informed the Rajya Sabha that the Ministry of Railways has taken a long-term loan of US$ 1775 million (approx 12,543 crores) from World Bank for the construction of the Eastern Dedicated Freight Corridor (EDFC).

"Yes, Sir. Ministry of Railways has taken a long-term loan of US$ 1775 million (approx 12,543 crores) from World Bank for construction of Eastern Dedicated Freight Corridor (EDFC)," stated Railways Minister Ashwini Vaishnaw in a written reply.

Vaishnaw further stated that the terminal date of three loans taken from the World Bank stood at October 27, 2011, followed by December 11, 2014, and 21 October 21, 2016. The loan amount stood at 555 US$ million, 660 US$ million, and 560 US$ million respectively.

The Union Minister in another reply regarding the money spent in Gujarat on Dedicated Freight Corridor-related work stated that an expenditure of approx Rs 90,723 crore has been incurred on the construction of Eastern and Western Dedicated Freight Corridors so far.

"The expenditure incurred is not maintained State-wise. While 100% of funding & execution of the project is with the Central Government, the State plays important role in facilitating the land acquisition, utility shifting, environmental clearances, construction of Road Over Bridge (ROBs)/Railway Under Bridge (RUBs), etc" he added.