Railways to raise $5 billion to finance projects
Railway Minister Suresh Prabhu on Saturday said the Ministry is structuring a $5 billion fund to finance various infrastructure projects. The proposed fund is in advanced stages of finalising and will be anchored by the World Bank, a Railways official said. Notably, Japan has provided a ₹1 lakh crore loan at 0.1% interest for a 50-year tenure to the Railways.