MMRDA in talks with German state-owned development bank, KfW, for funding urban infra projects
German delegates from the bank conducted an ‘Appraisal Mission’
The Frankfurt based German state-owned development bank, KfW, will explore funding opportunities with the Mumbai Metropolitan Region Development Authority (MMRDA) for its infra projects. On an official 10 day visit, German delegates from the bank conducted an ‘Appraisal Mission’ assessing the various Metro 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,” said 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,” he added.