World Bank cautious over funds for Mumbai metro

Even as the Mumbai Metropolitan Region Development Authority (MMRDA) made a detailed presentation about the metro master plan to World Bank (WB) officials on Tuesday, the bank has reacted with caution about funding the next seven corridors of metro. “We are pleased with the meticulous planning of MMRDA in the metro master plan. But, WB funding construction of the seven routes depends on a lot of aspects,” said Roberto Zagha, head, WB India.

Zagha added that while the formal proposal for funding the metro lines has to come from the ministry of finance at the Centre, WB also has to look at other aspects such as the financial models being implemented.

Zagha also defended the WB’s micro management policy in the Mumbai Urban Transport Project (MUTP), which has come under criticism from the MMRDA’s top management. Officials have been often seen reacting negatively to the interference of WB in the project. “When we have provided loan for a particular project, we have to make sure that the project makes consistent progress without any glitches. I do not think if our officials are critical about certain aspect, there is anything wrong about it,” said Zagha.