With the aim of modernizing and expanding rail infrastructure in India, the World Bank and Indian Railways announced early this year a partnership to create a Railway Development Fund that will partly finance the $142 billion investment plans for India’s core infrastructure development. While the size of the fund was not divulged, Railway Minister Suresh Prabhu has indicated that it would be the largest ever provided by the World Bank to Indian Railways.
The International Finance Corporation (IFC), a member of the Bank Group, would be looking into the possibility of revenue generation through non-railway generation. While global railways obtain 30-40% of their income from non-railway operations, the rate is less than two percent in India. Hence, IFC will be working with Indian Railways to assist in monetization issues and introduce global best practices.
Martha Lawrence, Senior Railway Specialist and Leader of the Railways Community of Practice at the World Bank, will be speaking in the “Finance & Funding” theatre on Day 2 of Asia Pacific Rail. Martha is involved in the Bank’s technical assistance and lending programs in China and India. Martha has over 30 years’ experience in the railway sector, with a focus on railway restructuring, railway finance and transport regulation. Join us at Asia Pacific Rail as Martha shares more about key elements for a railway project to be eligible for railway and its involvement in financing India’s rail boom.
About Asia Pacific Rail
Now in its 19th edition, Asia Pacific Rail is the largest gathering of senior rail leaders in Asia. With a 4 track premium conference agenda covering key issues across metro, mainline, freight, rolling stock, power, signalling & communications, finance & funding and more, 3 technical seminar theatres in the exhibition hall, over 80 exhibition stands and an Underground/Overground University, our 2017 edition will be our biggest ever. Book your ticket here.