India-AIIB Current Affairs - 2020

India-AIIB sign agreement of 500 million USD

On August 24, 2020, Government of Maharashtra and Asian Infrastructure Investment Bank signed loan agreement of 500 million USD to improve service quality, safety and network capacity of suburban railway system in Mumbai. Highlights The project is to increase network capacity in the region. This in turn will also help to reduce fatal accidents of Read More…

750 million USD loan approved by AIIB to India

On June 17, 2020, the Asian Infrastructure Investment Bank (AIIB) approved 750 million USD loan to India. The fund granted is to be used by the GoI to strengthen battle against the impact of COVID-19 on the poor and vulnerable. Highlights The aid was cofinanced by the Asian Development Bank (ADB). The funds are to Read More…

World Bank approves 1 billion USD to India

On May 15, 2020, the World Bank approved 1 billion USD aid to India to accelerate “India’s COVID-19 Special Protection Response Programme”. The fund will be used to provide social assistance to poor, severely impacted and vulnerable households. Highlights Of the 1 billion USD aid, around 550 million USD is to be credited by the Read More…

AIIB sanctions 145 million USD loan for Major Irrigation Project of West Bengal

On May 15, 2020, the Asian Infrastructure Investment Bank approves a loan of 145 million USD to improve irrigation facilities and flood management West Bengal Highlights The project is to focus on the Damodar Valley of West Bengal. It will benefit more than 2.7 million farmers spread across five districts of West Bengal. The total Read More…

India seeks 6 billion USD loans from ADB, AIIB

The World Bank has funded 1 billion USD to India to fight against COVID-19. With the COVID-19 cases increasing further, India seeks 6 billion USD from ADB and AIIB Highlights The Indian Economy is to take a major hit with the 21-day lock down. The Asian Development Bank has predicted that India’s growth rate is Read More…