AIIB approves $1.5-bn for Indian infra sector

    Asian Infrastructure Investment Bank (AIIB)
    The Asian Infrastructure Investment Bank (AIIB) in a recent decision has approved $1.5 billion funds for infrastructure and construction projects in India, AIIB's chief investment officer, D. J. Pandian, said, elaborating that the Beijing-based bank plans to invest over $100 billion through its belt and road schemes to build highways, rail lines, ports and other infrastructure ventures linking Asia, Europe and Africa. The funds cleared for India would be used for investment in country's roads, urban development projects and power sector and it is also contemplating allotting more funds for such projects next year. The bank's funds include a $200 million commitment to India's National Investment and Infrastructure Fund (NIIF) to spend on roads, housing and urban development and the bank will let the Indian government decide how to make the optimum use of the available sanctioned financial resources and that the energy-related projects will primarily be focused on renewable energy resources.
    CURRENTLY ONLINE
    We have 266 guests and no members online

    NBM&CW

    New Building Material & Construction World

    New Building Material & Construction World
    MGS Architecture

    Modern Green Structures & Architecture

    Modern Green Structures & Architecture
    L&ST

    Lifting & Specialized Transport

    Lifting & Specialized Transport
    II&TW

    Indian Infrastructure & Tenders Week

    Indian Infrastructure & Tenders Week