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GoI and AIIB sign MoU for $500 million for Mumbai Urban Transport Project-III

Sumit Arora Last updated on August 25th, 2020 11:25 am Leave a comment

The Government of India, the Government of Maharashtra, Mumbai Railway Vikas Corporation and the Asian Infrastructure Investment Bank (AIIB) has signed a loan agreement for a $500 million Mumbai Urban Transport Project-III.

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The aim of the project is to improve the network capacity, service quality and safety of the suburban railway system in Mumbai. With a population of 22.8 million (2011), Mumbai Metropolitan Region (MMR) is the most populous metropolitan region in India and is expected to reach 29.3 million by 2031 and 32.1 million by 2041.

Important takeaways for all competitive exams:

President of Asian Infrastructure Investment Bank: Jin Liqun.
Headquarters of AIIB: Beijing, China.
AIIB established: 16 January 2016.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.