Updated By: LatestGKGS Desk
GOI and AIIB $500 Mn Agreement Features, Details for Mumbai Suburban Railways
The GOI and AIIB sign Agreement of $500 Million To Improve the network capacity, service quality and safety of the suburban railway system in Mumbai
The Indian government and The Asian Infrastructure Investment Bank (AIIB) have come together to sign a loan agreement of $500 million for improving the network capacity along with service quality and safety in the suburban railway system in Mumbai.
The agreement has been signed by the Additional Secretary of Department of Economic Affairs (Ministry of Finance).
Key Features of the Project
1- The project is expected to reduce the travel time and also the risks of accidents.
2- It also aims at improving the safety of female passengers who are 22% of total commuters.
3- This project will also help in providing faster transport services and a more reliable means of transport.
4- This project will also force the State government to prioritize good urban and infrastructure planning with the eco-friendly outcomes as the population of the metropolitan regions is very high.
