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Agreement Between Asian Infrastructure Investment Bank (AIIB) and the Central Government

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Agreement Between Asian Infrastructure Investment Bank (AIIB) and the Central Government

Agreement Between Asian Infrastructure Investment Bank (AIIB) and the Central Government

  • Recently, $ 304 million agreement has been signed between the Asian Infrastructure Investment Bank (AIIB) and the Central Government for the power communication network in Assam.
  • This corpus will be used for the “Assam Intra-State Transmission System Enhancement Project” with an aim to improve the reliable capacity and security of the power transmission network in the state.

Asian Infrastructure Investment Bank(AIIB)

  • The Asian Infrastructure Investment Bank is a multilateral development bank that serves as a mission to improve social and economic outcomes in Asia and beyond.
  • AIIB is an international financial institution headquartered in Beijing, China. It was founded in 2014 and its operation started in
  • AIIB is better connecting people, services and markets by investing in sustainable infrastructure and other productive sectors that will affect the lives of billions of people over time and create a better future.
  • AIIB provides finance for concrete and sustainable projects in energy and electricity, transport and telecommunications, rural infrastructure and agricultural development, water supply and sanitation, environmental protection, urban development and operations.
  • Recently, India has emerged as the biggest beneficiary of the China-led Asian Infrastructure Investment Bank.
  • The capital of this bank is 100 billion dollars. This amount is equal to two-thirds of the Asian Development Bank’s capital and half of the World Bank’s capital.

Source – The Hindu

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