India signs 500 mln USD loan agreement with AIIB for improvement of Mumbai suburban railway

Aug 24, 2020

India signs 500 mln USD loan agreement with AIIB for improvement of Mumbai suburban railway

The Indian government Monday signed an agreement worth 500 million U.S. dollars with the Asian Infrastructure Investment Bank (AIIB) to improve the network capacity, service quality, and safety of the suburban railway system in Mumbai, the capital city of Maharashtra.
The government of India, the government of Maharashtra, Mumbai Railway Vikas (development) Corporation and the Asian Infrastructure Investment Bank (AIIB) today signed a loan agreement for a 500 million U.S. dollars Mumbai Urban Transport Project-III to improve the network capacity, service quality and safety of the suburban railway system in Mumbai.