China-Backed AIIB Eyes $1 Billion Infrastructure Push in India
- India is largest borrower of new Asian infrastructure bank
- Bank seeks regional balance with projects in other countries
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India’s backlog of infrastructure projects and institutional capability means it has more "shovel-ready" projects to fund than any other South Asian country, the Asian Infrastructure Investment Bank’s president said in an interview.
The AIIB, a multilateral investment bank proposed by China that started operations in 2016, has already approved funding for roughly $1 billion worth of projects in India and considering around $1 billion more. That includes a $200 million investment in New Delhi’s National Infrastructure Investment Fund, said Jin Liqun, who steers the bank’s $100 billion in registered capital.