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World Bank to invest over $1 billion over next 2-3 years in Maharashtra

This was the highest engagement by World Bank in India, said the World Bank CEO.

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Kristalina Georgieva along with Chief Minister of Maharashtra, Devendra Fadnavis
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World Bank would invest over $1 billion over next 2-3 years in Maharashtra and it would be providing assistance for urban transport projects like MUTP phase 3 and climate resilient project undertaken in drought affected and suicide prone 14 districts of state.

World Bank CEO Kristalina Georgieva​ announced that this was the highest engagement by World Bank in India. She had a delegation level meeting with Chief Minister Devendra Fadnavis at Sahyadri Guest House on Tuesday night. 

Georgieva told that World Bank has already invested over $1.4 billion in Maharashtra over the last five years and the investment is in the areas of urban transport, rural water supply and agriculture.

Addressing a joint press conference along with Fadnavis after the meeting, Georgieva said that she herself travelled in a Churchgate-Dadar local that too in a second class ladies compartment today. She said that though not in rush hours.

Kristalina Georgieva, CEO, World Bank shows her train ticket as she arrived at the Churchgate railway station to travel by local train, yesterday. 


Georgieva met with commuters as she saw the operations of the World Bank-supported suburban rail systems.


She was happy to talk to commuters and found that people are willing to pay more for comfortable journey and this aspect needs to be included in the policy issues. 

World Bank CEO travels in Mumbai local train from Churchgate to Dadar:

The MUTP is a joint venture of Railways Ministry and the Maharashtra government which comprises of a bouquet of railways projects to be completed over three to five years.

The MUTP 3 aims at improving suburban network on a macro scale. One of the prime finance component of MUTP is World Bank and it would be repaid equally by Railways and the state Government. MUTP 3 has projects like Rs. 2618 crore Panvel-Karjat suburban line, Rs 3555 crores Virar-Dahanu quadrupling, procurement of trains at Rs 2899 crores and Rs 428 crores for the elevated corridor between Airoli and Kalwa.

Underlining the expertise of World Bank in climate resilient agriculture, she said that people were in disagreement when World Bank started its work on climate change related issues in the 1990s. She said that now since World Bank has expertise in the field, it can provide finance for climate resilient agriculture in select areas of Maharashtra. 

Chief Minister Fadnavis told that the meeting with World Bank CEO and delegation was positive and considered five areas for cooperation.

He said that road connectivity, water conservation and Jalyukta Shivar Abhiyan, energy sector with feeder connectivity, smart cities and climate resilient agriculture. There are 14 districts in the state including eight from Marathwada and six from Vidarbha region which have recorded farmers suicides and are drought affected.

The World Bank would be chipping in with finance as well as its expertise for providing climate resilient agriculture in these areas so that suicides are prevented.  

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