Asian Infrastructure Investment Bank (AIIB) is likely to invest around $200 million in India’s first sovereign wealth fund NIIF, AIIB president Jin liqun said here on Tuesday.
Beijing-based AIIB, which started functioning in 2016, has committed over $1 billion in five infrastructure projects in India and proposes to take up 12 more, envisaging assistance of $3.5 billion.
Jin said the bank will focus on funding infrastructure projects in road, energy and transport sectors. We are working on some other projects also. For instance, the Indian Government attaches importance to NIIF, the initial fund might be $1 billion, we may be chipping in $200 million,” he said.
The Government had set up the Rs 40,000-crore National Investment and Infrastructure Fund (NIIF) in December 2016 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.
It was envisioned as a mother fund with several sectoral feeder funds. The projects being funded by AIIB in India include Bangalore Metro Rail Project, Transmission System Strengthening Project, Gujarat Rural Road Project and Power Project in Andhra Pradesh.
Jin is in India in view of the upcoming 3rd Annual General Meeting of the AIIB which is to be held in Mumbai on June 25-26. The AIIB Chief on Monday called on Prime Minister Narendra Modi, who asked the bank to showcase and demonstrate successful projects.
