According to bank documents, "The objective of the project is to improve the network capacity, service quality, and safety of Mumbai's suburban railway system by upgrading the existing infrastructure." Planned activities under the project's components include; Installation of Communication Based Train Control (CBTC) signaling system on the existing network, Improvement of 19 existing stations, and Institutional strengthening, implementation support, and technical assistance.
Ministry of Railway 258.5 million
Government of Maharashtra 258.5 million
Principal Investment Operations Specialist (Transport)
Prasanna V. Salian
Department of Economic Affairs,
Ministry of Finance
Government of India
Chairman and Managing Director
Mumbai Railway Vikas Corporation 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.