Ahead of the annual meeting of its board of governors here next week, a senior official from the Asian Infrastructure Investment Bank (AIIB) on Wednesday said it will pump $1.9 billion into various Indian projects. The country, the second largest shareholder in the Beijing-headquartered lender, is already the largest borrower accounting for commitments to the tune of $ 1.2 billion of the overall $ 4.5-billion committed so far.
"We have another $ 1.9 billion for Indian projects in the pipeline," vice-president and corporate secretary Danny Alexander told PTI here. He said the project pipeline includes an investment in the National Investment and Infrastructure Fund (NIIF), the Mumbai Metro, major irrigation and flood management projects in Bengal, making of Andhra's new capital city Amravathi, and two more projects in Andhra focused on rural roads and urban water supply. The projects to which the $ 1.2 billion have been committed include a rural connectivity project in MP, Bengaluru Metro, power transmission in Tamil Nadu, rural roads in Gujarat, the power-for-all project in Andhra and a $ 150 -million investment in an infrastructure fund floated by Morgan Stanley, Alexander said.
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