India and World Bank Inked Agreement for Efficient Bus Service [ Current Affairs ]
For the Efficient and Sustainable City Bus Service Project, the Union Government and World Bank have inked a US 9.2 million dollar grant agreement under World Bank-Global Environment Facility (GEF) Programme.
- The main aim of the Efficient and Sustainable City Bus Service Project is to improve the ability and attractiveness of city bus transport and reduce greenhouse gas (GHG) releases in select Indian cities.
- Following cities are selected for demonstration:
- Bhopal (Madhya Pradesh)
- Chandigarh, Jaipur (Rajasthan)
- Mira Bhayandar municipality in the Thane district of Maharashtra
- The project has been intended to focus on classifying institutional, regulatory and fiscal constraints to process sustainable of city bus services.
- For the GEF for the project the International Bank for Reconstruction and Development (IBRD) will be the executing agency.
- This project will support Union Government’s Bus Funding Scheme which was launched to encourage public transport in cities by updating their bus services.
- It will broadcast modern Management Information Systems and Intelligent Transport Systems for improved planning and management of operations.
- For better fuel efficiency it will also provide technical support to drivers and vehicles.
About Global Environment Facility
- The Global Environment Facility (GEF) was founded in October 1991.
- It’s headquarter is located at Washington, US.
- It is unites of 183 countries in partnership with international institutions, civil society organizations (CSOs), and the private sector to address global environmental issues while supporting national sustainable development initiatives.
- The GEF is the largest public funder of projects to improve the global environment in now days.
- It is an independently working financial organization.
- It provides grants for projects related to biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants.
- Published on: June 3, 2016