Asian Infrastructure Investment Bank (AIIB) to invest $200mn in Indian infrastructure
The Asian Infrastructure Investment Bank (AIIB) has announced it will invest $200mn into India’s National Investment and Infrastructure Fund (NIIF).
This was announced by the secretary for economic affairs, Subash Chandra Greg. Greg stated: “The $200mn investment is in two places. AIIB will invest $100mn now and another $100mn in the future. With this kind of vehicle utilised, it will be possible to multiply the investment in infrastructure to a large multiple.”
AIIB is based in Beijing and is a multilateral development bank. Having begun in 2016 it is now 86 members strong and focuses on sustainable infrastructure.
The NIIF is a group of funds set up by India to improve the country’s infrastructure. It has attracted global interest, with its largest investor to date as the Abu Dhabi Investment Authority (ADIA) which has invested $250mn.
Six projects currently underway as part of the NIIF are worth a total of $1.9bn and according to