The AIIB provided $1.5 billion for infrastructure projects in India

Beijing-based Asian Infrastructure Investment Bank approved a US$1.

5 billion loan to India for infrastructure projects in 2018.

Infrastructure projects

China plans to invest $100 billion through its Belt and Road Initiative to build highways, rail lines, ports and other infrastructure linking Asia, Europe and Africa.

AIIB’s chief investment officer said the funds will be used to invest in energy, road and urban development projects in India, which the bank will visit next year and allocate more money to these projects.

The AIIB’s loans include a $200 million investment in India’s National Investment and Infrastructure Fund for roads, housing and urban development The bank will let the Indian government decide how to use the funds.

He also said that energy-related projects are mainly focused on renewable energy projects, and did not disclose specific projects Chinese-backed lenders have taken a more hands-off approach to overseas development financing, unlike Western banks’ financing, which often comes with social and environmental ties and reinforces the attitude of nonprofits.

The AIIB wants to encourage the transition to renewable energy, but is not opposed to investment in coal-related projects, unlike most of its competitors’ counterparts who invest in coal.

Any foreign investment in renewable energy is crucial for India, which needs to invest at least $125 billion to meet its ambitious target of adding 175 GW of clean energy by the end of 2022.

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