Mumbai: The Union Minister for Railways,Coal, Finance and Corporate Affairs, Piyush Goyal said that India is looking forward to investments in 9 more projects from Asian Infrastructure Investment Bank after having picked up almost 28% of the bank’s total lending so far of US$1.4 billion for 7 projects.The Finance Minister, Goyal was addressing a Press Conference on the sidelines of the Third Annual Meeting of the Asian Infrastructure Investment Bank in Mumbai.
Welcoming delegates from 86 countries, Goyal pointed-out that in just three short years, India has hosted three major events for international multilateral banks;the New Development Bank (NDB), African Development Bank (ADB) and now the Asian Infrastructure Investment Bank (AIIB) in quick succession.
Lauding AIIB for its robust processes, Goyal said that it is a matter of great pride that a concept that was floated in 2014 was able to mature in 6-7 months, and by 2015 we had a Multilateral Development Bank in place with India being the second largest stakeholder with over 8% stake.’
Goyal said that AIIB has focused its investment in India on lending to rural infrastructure, energy and power, environmental protection,transportation and telecommunication, water supply and sanitation and urban development and logistics and it is a matter of great pride that India is the largest recipient of the $4.2 billion funds disbursed by it which constitutes 28% of its total investment so far.
