MUMBAI: The Asian Infrastructure Investment Bank (AIIB) is planning to invest up to $2.5 billion in urban transport projects, such as Metro commuter-rail networks and radial roads, giving a boost to New Delhi’s Smart City initiative.
AIIB is in advanced talks with different nodal agencies, including Chennai Metro Rail and the Mumbai Metro Rail Corp, two people with direct knowledge of the matter told ET. The supranational lender is expected to sign financing agreements with these two railroad operators.
