WB commits $300-mn for multi-model hub in Bengal

The World Bank will pump in $300 million for the development of multi-modal logistics infrastructure hub in the Kolkata metropolitan area, informed the state’s finance minister. WB considers the location to be a springboard for a huge catchment area to connect the neighboring states, including Nepal, Bhutan, Bangladesh, North East, parts of ASEAN and the states of Bihar and Jharkhand. The bank has already submitted a master plan for development of the Kolkata Metropolitan Area ( KMA). It is also reviewing industrial parks, industrial estates, special economic zones on the eastern corridor in the South Asian region encompassing West Bengal, Punjab, Haryana, Delhi, Chandigarh, Uttar Pradesh, Bihar, Jharkhand and Assam. This will enhance logistics competitiveness, employment generation, ease of doing business, and investment opportunities. The Department of Economic Affairs (DEA) has given its clearance to the West Bengal government whcih will be the nodal agency in implementing the World Bank’s ₹2,100-crore master plan. The cumulative investments in these projects would run up to ₹5,000 crore.