Page 8 - TT mag April 2024 Digital Edition
P. 8
UPDATE
AIIB and World In tune with Vision 2047
Bank Strengthen oon after the formation of
Cooperation the new Government, the
Ministry of Road Transport
and Highways could
he Asian Infrastructure
Investment Bank and Sunveil an ambitious plan
the World Bank have for building 50,000 km of new,
signed a renewed access-controlled, expressways
TMoU to enhance by 2037 with an aim to reduce
collaboration on infrastructure logistic costs. This might replace
development and support the the Bhartamala scheme in tune build-operate-transfer (BOT) mode
achievement of the Sustainable with the Vision 2047 for the road with greater participation of the
Development Goals. Building sector. Implementing GPS-based private sector. The Ministry will
upon the previous MOU tolling on select stretches and also plan to encourage companies
signed in 2017, this agreement rolling out a cashless treatment to set up vehicle scrapping centres
outlines enhanced areas of facility for all road accident victims and giving incentives to vehicle
collaboration such as climate will also get started. Many of the owners to opt for scrapping of
change, social infrastructure road projects will be bid out on the their old vehicles.
(with a focus on health),
biodiversity and other mutually
agreed areas that align with New Metro ticketing system
AIIB’s mission of Financing
Infrastructure for Tomorrow etro One (Versova- TapTap is launched with a
and the World Bank’s Global Andheri-Ghatkopar),
Challenge Programs. M Mumbai has special introductory offer priced
at Rs. 200, allowing commuters
This enhanced collaboration introduced an to wear their tickets instead of
facilitates areas like the innovative ticketing carrying them. It is expected that
implementation of joint system featuring a wearable the wristband significantly reduces
projects and initiatives, with an wristband known as TapTap, the carbon footprint compared to
emphasis on climate finance, designed for contactless payments traditional payment methods like
green & blue investments, during metro commutes. As per
increasing lending capacities the reports, this band is made plastic cards. It operates without
and improving digital from environment friendly silicone- batteries, is waterproof, and offers
infrastructure. based material. effortless usability.
8 TRAFFICINFRATECH / April 2024 / www.trafficinfratech.com
