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GOI, Gov. of Maharashtra and MRVC signs MoU with AIIB

Published on August 25, 2020
Current Context: Government of India, Government of Maharashtra and Mumbai Railway Vikas Corporation (MRVC) has signed a loan agreement with Asian Infrastructure Investment Bank (AIIB).
GOI, Gov. of Maharashtra and MRVC signs MoU with AIIB

  • The loan agreement is signed for Mumbai Urban Transport Project III.
  • The loan agreement is for USD 500 million.
  • The Mumbai Urban Transport Project III will help to provide improved service quality, safety, network capacity of the suburban railway system in Mumbai.
  • The total costing of the Mumbai Urban Transport Project III is estimated to be USD 997 million. Out of which, USD 500 million is granted by AIIB, USD 310 million is granted by Government of Maharashtra and USD 187 million is granted by Railway ministry. 
  • Static Part: 
    • HQ of AIIB: Beijing, China
    • President of AIIB: Jin Liquin
    • CM of Maharashtra: ‎Uddhav Thackeray‎
    • Governor of Maharashtra: Bhagat Singh Koshyari
    • National Parks and Wild Life Sanctuaries in Maharashtra: Tadoba Andhari Tiger Reserve, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park, Bhimashankar Wildlife Sanctuary, Bhamragarh Wildlife Sanctuary, Malvan Marine Sanctuary, Karnala Bird Sanctuary


Q.1 Which of the following organisation has offered a loan of USD 500 million for Mumbai Urban Transport Project III? 
a. New Development Bank
b. Asian Infrastructure Investment Bank (AIIB)
c. Asian Development Bank
d. International Monetary Fund
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