India: Mumbai Metro Line 5 (AIIB-000365)

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
Proposed
Bank Risk Rating
B
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)
$ 236.00 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)
$ 436.00 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 Jun 29, 2020


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Project Description

According to bank documents, "The Project will comprise the provision of rolling stock and systems, including signaling, telecommunications, automatic fare collection, traction and power supply, and depot machinery and plant for a separate project under implementation by the Mumbai Metropolitan Region Development Authority (MMRDA) that covers the construction of a 24.7 km, 17-station, elevated Mumbai Metro Line 5 (MML5)."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Co-financing:
The OPEC Fund for International Developmen US$ 100 million
Mumbai Metropolitan Region Development Authority US$ 100 million

Contact Information

AIIB

Mehran Avini
Senior Private Sector Technical Specialist
Asian Infrastructure Investment Bank
mehran.avini@aiib.org

Shaimaa Al-Sheiby
Senior Officer,
Private Sector Operations
The OPEC Fund for International Development

A.Al-Sheiby@ofid.org

Borrower

Dr. Prasanna V. SalianDeputy Secretary, Department of Economic Affairs, Ministry of Finance
Government of Republic of India

pv.salian@nic.in

Implementing Agency

Bharat B. Modgil
Senior Director (Systems Integration), Metro PIU (Systems)
Mumbai Metropolitan Region Development Authority

srds@mailmmrda.maharashtra.gov.in


ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.