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Discussion :: Banking - Latest Current Affairs (Q.No.334)

334. 

Government of India signed a loan agreement of USD 926 Million, with which of the following bank in order to operationalize two lines for the Mumbai Metro Rail System?

[A]. Asian Development Bank
[B]. Asian Infrastructure Investment Bank
[C]. World Bank
[D]. Reserve Bank of India

Answer: Option A

Explanation:

The Asian Development Bank (ADB) and the Government of India signed a loan agreement of USD 926 Million in order to operationalize two lines for the Mumbai Metro Rail System and is the Single Largest Infrastructure Project Loan in ADB history. It will fund the following metro lines totalling to about 58 km:2A (Dahisar to D.N. Nagar) 2B (D.N. Nagar-Bandra-Mandale) 7 (Dahisar [East] to Andheri [East]). It will fund 63 six-car trains, signalling and safety systems, and help establish a new dedicated metro operations organization to manage the entire metro network in Mumbai. The Mumbai Metropolitan Region Development Authority (MMRDA) will implement the project and will be operational by the end of 2022. The Project is also ADB's first co-financing with the Shanghai-based New Development Bank, which will provide USD 260 million for the metro systems project.

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