CURRENT AFFAIRS
Which institution has approved $356.67 million loan to support the expansion of Chennai Metro Rail?
A)
World Bank
B)
New Development Bank (NDB)
C)
Asian Development Bank (ADB)
D)
Asian Infrastructure Investment Bank (AIIB)

Correct Answer : Option (D) - Asian Infrastructure Investment Bank (AIIB)

Note :

The Asian Infrastructure Investment Bank (AIIB) has approved a $356.67-million loan for the expansion of the Chennai Metro Rail system(CMRL).
 
Phase-2 of the Chennai Metro Rail will span the area from the Lighthouse in the east to Poonamalee Bypass in the west. This will ensure seamless multimodal transport across Chennai, by providing integrated access to suburban rail, bus stations, and the city’s main airport, the Beijing-based multilateral funding agency said in a statement.
 
AIIB has approved 28 projects amounting to $6.7 billion in India, with the energy and transport sectors have received the lion's share of the institution's financing.

Published On : October 3, 2021