"We have decided to work with the World Bank on creating a Railway Development Fund. This was already initiated. But now, we have taken it forward", Prabhu said here after his meeting with World Bank officials.
Noting that the World Bank would be anchor investors in this new fund, along with other co-investors, Prabhu said, "This fund would be kick started soon as there is unanimity in the World Bank leadership".
He also said the World Bank leadership has realized that based on the performance in the past one year, Indian Railways is in the right direction.
However, Prabhu did not divulge the size of the fund, but indicated that it would be the largest ever provided by the World Bank to the Indian Railways.
Prabhu is here to attend a World Bank meeting on transportation. During his stay in the US capital, he also met officials of the International Finance Corporation, the US Transportation Secretary Anthony Renard Foxx, and some of the think-tanks.

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