India is the largest recipient of financing from the Asian Infrastructure Investment Bank and plays a key role in shaping the work the bank does, Danny Alexander, vice-president of AIIB, told BloombergQuint.
The Beijing-based bank on Sunday made a commitment of $100 million to the National Investment and Infrastructure Fund, which will help mobilise private sector capital for infrastructure projects in India, he said.
AIIB has funded seven projects worth $1.4 billion in India and has agreed to finance the Bengaluru Metro. The bank also financed a couple of electricity transmission upgrade projects, he added. “India’s renewable energy sector has great future with the government’s push.”
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India is really important to AIIB and is also the second largest shareholder of the bank. It has a key role in shaping the kind of work the bank does.Danny Alexander, Vice-President, AIIB
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Watch the full interview here: