India and AIIB signed agreement for Mumbai Urban Transport Project-III

Centre, Maharashtra Government, Mumbai Railway Vikas Corporation and the Asian Infrastructure Investment Bank (AIIB) have signed a loan agreement for a USD 500 million Mumbai Urban Transport Project-III.

Daily Current Affairs Quiz 2020

Key-Points

This will improve the network capacity, service quality and safety of the suburban railway system in Mumbai.

The Project is expected to increase network capacity in the region with the reduction in journey time and fatal accidents of commuters.

It is estimated that among primary beneficiaries of the project, 22 per cent are female passengers who will benefit from improved safety and quality of service.