AIIB approves 8th project with loan of USD 455 mln in India

The Asian Infrastructure Investment Bank (AIIB) has recently approved a 455-million-U.S. dollar loan project for Andhra Pradesh, India, making it the eighth project approved by AIIB in India.

The new loan project aims to build and upgrade the road network of Andhra Pradesh. The road network is about 6,000 kilometers long and connects more than 3,300 rural settlements. After the completion of the project, it will bring convenience to more than 2 million local people, improve the transportation conditions of agricultural products, and increase the enrollment rate of local children.

According to the data of AIIB, with the approval of the above project, the amount of loans approved by AIIB in India totaled 1.769 billion U.S. dollars, and the loans mainly went to the field of infrastructure construction, such as transportation and electric power.

AIIB is a new multilateral development bank focusing on the infrastructure investment. Headquartered in Beijing, it officially opened in January 2016.

Editor: 曹家宁
Today’s Recommendations

China, Spain agree to advance ties during Xi's visit

China and Spain agreed on Wednesday to build on the 45th anniversary of the establishment of diplomatic ties to jointly promote the development of the relationship and deliver more benefit to the two peoples.【detailed】

Xi's Europe, LatAm trip to promote cooperation, multilateralism

The trip is expected to deepen comprehensive strategic partnership between China and the European Union (EU), consolidate China-LatAm comprehensive cooperative partnership and promote global economic governance.【detailed】