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 May 13, 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

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.