Press conference held by Shri Subhash Chandra Garg, Secretary Department of Economic Affairs, Ministry of Finance and Sir Danny Alexander, Vice President & Corporate Secretary, Asian Infrastructure Investment Bank (AIIB) at the start of the Asian Infrastructure Investment Bank’s third Annual Meeting taking place in Mumbai.Asian Infrastructure Investment Bank (AIIB), a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Headquartered in Beijing, it commenced operations in January 2016 and have now grown to 86 approved members from around the world. By investing in sustainable infrastructure and other productive sectors today, it will better connect people, services and markets that over time will impact the lives of billions and build a better future.
INVESTMENT OPERATIONS USD4.39 billion As of April 11, 2018
Egypt Georgia Azerbaijan Oman Tajikistan Pakistan India Bangladesh Myanmar Indonesia China Philippines Emerging Asia
Telecom Transport Urban/Water/Sanitation Multi-sector Energy
AIIB IN INDIA
India is a founding member and the second largest shareholder of AIIB.
As of April 11, 2018, AIIB’s Board of Directors has approved six projects with a total amount of up to USD1.214 billion in funding for India:
• USD140 million: Madhya Pradesh Rural Connectivity Project.
• USD335 million: Bangalore Metro Rail Project – Line 6.
• USD329 million: Gujarat Rural Roads (MMGSY) Project.
• USD160 million: Andhra Pradesh 24x7 – Power for All.
• USD100 million: Transmission System Strengthening Project.
• Up to USD150 million: Morgan Stanley India Infrastructure Fund.
AIIB IN INDIA
• Proposed projects:
• Andhra Pradesh Rural Roads Project.
• Andhra Pradesh Urban Water Supply and Septage Management Improvement Project.
• National Investment and Infrastructure Fund.
• Mumbai Metro Line 4 Project.
• West Bengal Major Irrigation and Flood Management Project.
• Amaravati Sustainable Capital City Development Project.
• Projects currently under review focus on:
• Transportation; urban (metro) and rural (roads).
• Energy; power grid improvements, transmission improvements (low, medium and high voltage) and renewable energy (sovereign and non-sovereign).
• Water and waste management; semi-urban and urban.