AIIB to invest 100 million USD in solar and wind projects in India

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.

AIIB Projects

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.

India completes Agni II test fire successfully

India on November 11, 2019, conducted its first night trial of AGNI II missile successfully. It is the first night trial being tested by the country. The nuclear capable missile was tested at the Abdul Kalam Island of Odisha Coast.

Highlights

  • The missile was developed by DRDO (Defence Research and Development Organization)
  • The surface-to-surface medium range nuclear capable missile was tested by the Strategic Forces of the Indian Army.
  • The missile is capable of striking range of 2,0000 km. It can carry payload of 1,000 kg and launch a weight of 17 tonnes. It is 20 meters long and is a two-stage missile.
  • It is an IRBM (Integrated Range Ballistic Missile) and has already been inducted into the armed forces

AGNI Missile

Agni II missile is a part of series of Agni missile with a range of 2,000 km. The range of Agni I is 700 km, Agni III is 3,000 km. The ranges of Agni IV and Agni V are longer

The first test firing of Agni II missile was done in 1999. In 2010, the first test fire of nuclear capable Agni II ballistic missile was conducted successfully.