Traffic and pedestrians cross a bridge over the Gomti river in Lucknow, Uttar Pradesh, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

India Key To Asian Infrastructure Investment Bank’s Ambitions, Says Danny Alexander

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.”

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

Watch the full interview here: