01 Sep 2019
MMRDA seeks project funding from German bank KfW
The Mumbai Metropolitan Region Development Authority (MMRDA) has been engaged in talks with KfW, the German state-owned development bank, to explore possible funding opportunities for its urban infrastructure projects. An ‘appraisal mission’ was conducted on an official 10-day visit where German delegates assessed the various metro projects in the city. They were also briefed on Metro Line 4 and the multimodal integration project.
“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 in funding our projects. This association will be a boon to MMRDA’s flagship project, the Mumbai Metro,” says R A Rajeev, Metropolitan Commissioner, MMRDA. “I have personally briefed the bankers on the details of the project and emphasised upon 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.”
The delegates further visited several other sites under construction and were keen on discussing MMRDA’s future development plans in the city.