In an effort to improve efficiency of transport and reduce greenhouse gas emissions, India recently signed a $9.2-million grant agreement with the World Bank. This Global Environment Facility (GEF) grant will be used in the ‘Efficient and Sustainable City Bus Service Project’ that is focused on addressing these issues.
Confirming the news, the Finance Ministry said in a statement that an agreement for GEF grant of $9.20 million with the World Bank for ‘Efficient and Sustainable City Bus Service Project’ was signed here on Tuesday (last week).
The entire program will cost $113 million, and apart from the World Bank’s grant of $9.2 million, the remaining amount ($103.7 million) will be funded by the Center, state and city governments. The Center’s funding will be used for buses and ancilliary infrastructure. The project is aimed at improving the efficiency of city bus transport and attract passengers to use public transportation all the more.