WB willing to fund Rs. 14,549-cr Metro Project

In yet another financial booster to the Mumbai’s Metro Rail network, World Bank has expressed its willingness to extent 48% of the cost as soft loan for the construction of the Metro corridor that connects Mumbai with Thane. The Metro-4 corridor project between Wadala-Thane-Kasarvadavali is being implemented by the Mumbai Metropolitan Region Development Authority (MMRDA). The import of the preliminary negotiations between the officials of MMRDA and the World Bank suggested that the latter is ready to fund the Metro-4 corridor entailing an investment of Rs. 14,549 crore. The funding for the civil works will be done by the state government itself and the rest could be funded by the World Bank, said Metropolitan Commissioner, MMRDA, U.P.S. Madan.