Mumbai Urban Transport Project 3 (AIIB-000228)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Mumbai
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of India
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 997.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Oct 11, 2019

Disclosed by Bank Jan 31, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to AIIB website, the project aims to enhance the network capacity, service quality and safety of Mumbai’s suburban railway system.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Funding in USD (million): 

AIIB - 500

Ministry of Railway - 186.5

Government of Maharashtra - 310.5

Private Actors
Contact Information

Borrower/Client: Government of India
Dr. Prasanna V. Salian, Joint Director
Department of Economic Affairs, Ministry of Finance
pv.salian@nic.in


Implementing Agency: Mumbai Railway Vikas Corporation Ltd.
R.S. Khurana, Chairman and Managing Director
cmd@mrvc.gov.in

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.