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

Sumit Arora Published On August 25th, 2020 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, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.