The announcement was made by World Bank CEO Kristalina Georgieva today after concluding her day-long visit to the megapolis.
"Over the last 5 years, the World Bank has invested over 1.4 billion USD in Maharashtra in urban transport, rural water supply and agriculture," she told reporters.
Earlier in the day, she experienced how the megapolis was managing some of the major challenges of fast-paced, sprawling urbanisation.
"To meet the aspirations of Mumbaikars, some of whom I met today, the city will have to make massive investments in transport infrastructure. The bank is committed to support the government's efforts in this area through investments that strengthen the government's capacity to leverage additional funds, including those from the private sector," she said.
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Georgieva said the World Bank was also committed to help the state develop climate resilient agriculture practices in drought prone regions.
Meanwhile, Maharashtra Chief Minister Devendra Fadnavis said the state government was committed to ensure high economic growth for its people.
"The state faces significant challenges, particularly in areas of urban transport, climate change and water. We are keen to work with the World Bank in these areas and explore future opportunities to deepen our engagement for overall development of the state," said Fadnavis.
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