Asian Infrastructure Investment Bank to fund $ 1.2 billion worth Indian projects

Asian Infrastructure Investment Bank (AIIB) will pump $1.9 billion into various Indian projects.

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.

Source: BS