According to the bank's website, the proposed project aims to "provide high capacity and efficient east-west connectivity through the center of Chennai by expanding the city's metro system."
The project components are:
Component A: Construction of 16 km of elevated viaduct
Component B: Construction of 18 elevated stations
Component C: Construction of 7 underground stations
Component D: Implementation support and technical assistance
Other components, including the underground section, depot, system and rolling stock for the project will be financed by parallel co-financiers and the Government of Tamil Nadu (Co-financiers' Components)."
Government of Tamil Nadu US$ 652.36 million
Parallel Co-financiers US$ 1,165.52 million
Principal Investment Operations Specialist (Transport)
Prasanna V. Salian
Deputy Secretary, Department of Economic Affairs
Ministry of Finance, Republic of India
Pankaj Kumar Bansal
Managing Director, Chennai Metro Rail Limited
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.