Asian Infrastructure Investment Bank to Pump $200 Million into Indian Infrastructure Fund
The Asian Infrastructure Investment Bank (AIIB) will pump $200 million into the National Investment & Infrastructure Fund. The funding was announced by economic affairs secretary Subash Chandra Garg ahead of the third AIIB annual meeting which will be attended by Prime Minister Narendra Modi on Tuesday.
“The $200-million investment is in two phases. AIIB will invest $100 million now and another $100 million in the future,” Garg said. Beijing-based AIIB has approved $4.4 billion of investments of which the largest — $1.2 billion — is in India.
Photo courtesy of GotCredit.