MMRDA is in talks with German state-owned development bank KfW for funding urban infra projects
The Frankfurt based German State-owned development bank, KfW, will explore funding opportunities with the Mumbai Metropolitan Region Development Authority (MMRDA) for its infrastructure projects. On an official 10 day visit, German delegates from the bank conducted an ‘Appraisal Mission’ assessing the various metro-rail projects in the city. The bankers were briefed on the Metro Line 4 and the multi-modal integration projects.
“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,” says RA Rajeev, Metropolitan Commissioner, MMRDA.
The delegates also conducted other site visits presently under development and reacted positively to the future development plans of MMRDA.
“I have personally briefed the bankers on the details of the project and have emphasised on our need to protect the environment while being socially responsible. The MMRDA Metro project will be one of the best in the world and we look forward to working with KfW,” concludes Rajeev.
MMRDA is a Government of Maharashtra agency that is responsible for the infrastructure development of the Mumbai Metropolitan Region. Set up under the Mumbai Metropolitan Region Development Authority Act, 1974 Government of Maharashtra on 26 January 1975, MMRDA is an apex body for planning and co-ordination of development activities in the region. Since its inception, the authority is engaged in long-term planning, promotion of new growth centres, implementation of strategic projects and financing infrastructure development. It prepares plans, formulates policies and programmes, implements projects and helps in directing investments in the region.
Photo Courtesy: Mumbai Metropolitan Region Development Authority