China-based Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion in loans to India for infrastructure-related projects in 2018, a senior official of the AIIB said on Tuesday.
China-based Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion in loans to India for infrastructure-related projects in 2018, a senior official of the AIIB said on Tuesday.
The funds would be used for investment in India's energy, roads and urban development projects, and the bank will examine allotting more funds for such projects next year, D.J. Pandian, the AIIB's chief investment officer said.
Meanwhile at the
the second India-Korea Business Summit 2018 in New Delhi, the Finance Minister Arun Jaitley also unveiled the logo of third annual meeting of Asian Infrastructure Investment Bank, which would be be held from June 25-26, this year in Mumbai.
"AIIB has come up well within very short time", he said.
Earlier at the same event, Prime Minister Narendra Modi addresed the event and said that India already has become the third-largest economy by purchasing power and it would soon become the world's fifth-largest economy by nominal GDP.
"We are also the fastest growing major economy of the world today and a nation with the one of the largest start up eco-systems", he said while addressing the second India-Korea Business Summit 2018 in New Delhi.
India and Korea are the third and fourth largest economies in Asia.
This year the theme of two-day long India Korea business summit is 'India-Korea: Scaling up the Special Strategic Relationship through Trade and Investments'.
The summit aims to create the framework for an open and action-oriented dialogue between top business leaders and the government officials from India and Korea.
The agenda of the summit would focus on specific sectors where new and immediate opportunities exist for Korean and Indian companies such as Infrastructure, ICT, Power, Smart Cities, Manufacturing and other strategic areas of collaborations.
Besides PM Modi and FM Arun Jaitley, Union Commerce Minister Suresh Prabhu, Minister of Electronics and IT Ravi Shankar Prasad, and the top officials of Ministry of Commerce and Industry would also address the summit.
){kind=tracking}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "AIIB approves $1.5 billion of loans to India for infrastructure projects")
)
)
)
)
)
)
)
)
)
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}