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World Economy
World Bank To Loan India $1 Billion To Clean Ganges.
"The World Bank has agreed to loan India $1 billion to help clean the Ganges river, sacred to hundreds of millions of Hindus and also one of the most polluted rivers in the world. 'The Bank would be honored to help and support India's renewed endeavor to revitalize this uniquely important river,' World Bank President Robert Zoellick said...." [Associated Press/Factiva]
BBC adds that "...the river has been badly polluted by industrial chemicals, farm pesticides and other sewage. Speaking in Delhi, Zoellick said the clean up would target the entire river network. Plans involve building sewage treatment plants, revamping drains, and other measures to improve the water quality...." [BBC News]
The Hindu writes that "...the World Bank will seek to support government's national program to clean and conserve the Ganges through substantial financing over several phases, with the first of several loans planned for presentation to the Bank's Board of Executive Directors for approval between July 2010 and June 2011. Under the 'Mission Clean Ganges,' the Authority has resolved that by year 2020 no untreated municipal sewage or industrial effluents will be discharged into the Ganges. An investment of $4 billion is currently planned to meet this objective...." [The Hindu (India)/Factiva]
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