German bank KfW explores funding for MMRDA Metro and MultiModal Integration Projects

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Mumbai: German state-owned development bank, KfW is exploring funding opportunities for the infrastructure projects being undertaken in the megapolis by MMRDA. A delegation of KfW officials have met the Mumbai Metropolitan Commissioner to discuss about the various infrastructure projects being undertaken by the Authority.

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  • MMRDA (Mumbai Metropolitan Region Development Authority) said in a statement,”They conducted ‘Appraisal Mission’ assessing various Metro projects in the city. The bankers were briefed on the Metro Line 4 and the multi-modal integration projects.”
  • The delegates also visits the sites that are presently under development and reacted positively to the future development plans of MMRDA.

  • RA Rajeev, Metropolitan Commissioner, MMRDA said,”MMRDA is on a mission to create a Mumbai of the future. We are delighted to announce that Germany’s third largest bank has expressed interest to fund our projects. This association will be a big boon to MMRDA’s flagship project the Mumbai Metro.”
  • Rajeev said he apprised the bankers on the details of the project and have emphasised on our need to protect the environment while being socially responsible.
  • He added,”The MMRDA Metro project will be one of the best in the world and we look forward to working with KfW.”
  • The government has developed a plan for 12 metro lines with a total length of 276 km in Mumbai metropolitan region.
  • Line 1, completed in 2014 on a PPP (Public-Private Partnership) model, carries about 4 lakh passengers a day.
  • It has reduced travel time along its east-west route from 71 minutes to 21 minutes.

All Image Credit : MMRDA

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