AIIB $1.5 billion loan boosts India’s infrastructure plan

In a move that could help bridge India’s infrastructural gap, the Asian Infrastructure and Investment Bank (AIIB) has approved $1.5 billion in loans to India for a host of infrastructure-based projects in 2018. While the loan will be utilized for the development of energy, roads and urban centres, there will be a special focus will be on enhancing India’s renewable energy capacity.
With 7.74 per cent equity share in the multilateral development bank, India is only second to China which holds 29.9 per cent. Operating from 2016, the 84-member bank, which was initiated by China, is focussed on supporting infrastructural development across the Asia-Pacific region.

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