India and Asia Infrastructure Investment Bank Agreement: 500 million USD

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Government of Maharastra and AIIB – Asian Infrastructure Investment Bank Signed agreement of the date of 24 August 2020. Total 500 million USD for improvement. In this program improve service quality, safety, and network capacity of suburban railways system in Mumbai.

Key Points :

  1. All over 997 UAD is the total cost of this Project.
  2. The primary beneficiaries of the project are 22% will be female passengers.
  3. 310 million USD by the Maharastra State Government and 187 million USD by the Ministry of Railways.

Background of Program :
Mumbai is expected to reach 29.3 million population in 2031 and 32.1 million by 2041. That’s why the Maharastra State Government to make urban planning sound and also optimize environmental and social outcomes. This is the focus on the suburban railway system.

Information about AIIB :
In the year 2020 AIIB has approved 19.6 billion USD for 87 projects in 24 economies. India received 17 projects and 4.3 billion USD.

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