The Asian Infrastructure Investment Bank (AIIB) which is headquartered at Beijing expects an investment of 100 million USD in India in a year. The foreign investment is to enter India through the bank in Wind and solar projects.
AIIB approves 500 million USD for MUTP 3
- On November 16, 2019, the bank approved a loan of 500 million USD in three suburban rail infrastructure projects.
- The projects are being executed under MUTP-Mumbai Urban Transport Project
- The project curbs trespass deaths by including mid-section trespasses. It is the first of its kind in the country.
AIIB Investments in India
- AIIB has so far invested 2.9 billion USD. It amounts to 30% of the total investment
- India is the largest borrower of AIIB.
- The bank is planning to increase its investments in the future. It has a long-term strategy framed for the investments in India. In 2019-20, the plan is to invest around 4.5 billion USD. Next year the target is to increase the investment to 5 billion USD. The plan is to reach 10 billion USD by 2025.
The ongoing key projects of AIIB includes the following
- 400 million USD has been invested by the bank in the rural water supply system of Karnataka
- Around 1 billion USD is being spent on power distribution and transmission in the state of Assam.
- 800 million USD is to be invested in Chennai Metro.