India listing projects worth $2-3bn for funding by AIIB
The Dollar Business Bureau India is planning a list of projects for $2-3 billion to be funded by the China-led Asian Infrastructure Investment Bank (AIIB) in various sectors such as urban development and energy. It is also open to the idea of setting up an office of the global banking institution in New Delhi. “India has a huge unmet demand for investment in infrastructure and is preparing a basket of projects worth $2-3 billion for AIIB funding in the areas of urban development (including smart cities), energy, urban transport, railways, inland waterways and water supply,” Finance Minister Arun Jaitley said. Addressing the Board of Governors of the Annual General Meeting (AGM) of the AIIB headquartered in Beijing, Jaitely said the bank has been founded at ...
It's official! China-led AIIB established
The Dollar Business Bureau China is by far the largest AIIB stakeholder with 30.34% share, followed by India and Russia holding 8.52% and 6.66% respectively What is widely regarded as a rival to the World Bank and other global bodies, the Asian Infrastructure Investment Bank (AIIB) was formally set up on Friday and it is expected to begin operations early next year. China’s Ministry of Foreign Affairs on Friday confirmed that 17 funding members with initial capital of 50.1% of the total share have deposited the instruments of ratification and the bank is likely to commence operations early next year. “The articles of agreement of the Asian Infrastructure Investment Bank, dated June 29, 2015, entered into force on December 25, 2015,” ...
