Aiib

AIIB should strive for more innovative financing models: FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the Asian Infrastructure Investment Bank (AIIB) should strive for greater provision of innovative financial models and scale up efforts for private capital mobilisation. The minister in her meeting with the AIIB delegation, comprising 11 officials of the Board of Directors of AIIB and senior representatives and staff, said India could act as a sandbox for AIIB's piloting of innovative financing models and technologies. Sitharaman, who is also Governor on the AIIB Board, stated that the multilateral institution should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India's next generation reforms, an official statement said. She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB's project design and implementation. "Sitharaman further suggested that AIIB shou

FM asks AIIB to increase innovative financing, non-lending services

The finance minister was attending the Governors' Business Roundtable at the 9th Annual Meeting of the Board of Governors of AIIB in Samarkand, Uzbekistan

FM asks AIIB to assist low-income countries to avail financial resources

Finance Minister Nirmala Sitharaman on Wednesday said AIIB should continue to focus on a client-centric approach and facilitate member countries, particularly low-income countries to avail financial resources through technical assistance. She urged Asian Infrastructure Investment Bank (AIIB) during a meeting with its president Jin Liqun ahead of the 9th Annual Meeting of Board of Governors in Samarkand (Uzbekistan). The finance minister appreciated AIIB's rapid growth in lending operations in a short span of nine years. "The Union Finance Minister suggested that @AIIB_Official should continue strengthening its client centric approach and facilitate member countries, particularly Low-Income Countries to avail financial resources through technical assistance and other non-financial services," the ministry said in a post on X. India being the second largest shareholder and the largest client, the AIIB President appreciated India's contributions to the governance and overall growth of

Sitharaman to visit Uzbekistan from Sept 24 to 28, attend AIIB annual meet

Finance Minister Nirmala Sitharaman will attend the 9th Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank (AIIB) scheduled in Samarkand, and hold bilateral meetings with her counterparts from Uzbekistan, Qatar, China, and AIIB President. She will embark on an official visit to Uzbekistan from September 24 to 28, the finance ministry said in a release. The Annual Meeting of Board of Governors of AIIB is scheduled on September 25 and 26. The annual meeting witnesses participation of delegations from around 80 countries, and other international organisations. "In the Annual Meeting of AIIB, the Union Finance Minister will attend as the Indian Governor to the AIIB. India is the second largest shareholder of the bank. The multilateral discussions centred around a broad spectrum of important global issues relevant to the development agenda," the finance ministry said. As part of the official visit, she is expected to call on Shavkat Mirziyoyev, President of ...

JBM secures $100 million funding from ADB, AIIB to expand e-bus operations

JBM currently operates over 1,500 electric buses across 10 states and more than 15 major airports in India

India emerges as AIIB's top market for funding infrastructure projects

Given the sheer size of infrastructure development taking place across the country, India has emerged as the biggest project funding market for the Asian Infrastructure Investment Bank (AIIB), a top bank official said on Wednesday. Stating that financing of a lot more new infrastructure projects is under discussion for next year, AIIB South Asia Director General Rajat Misra said, Lending to India will continue to grow as the bank balance sheet will also grow. Misra was speaking to PTI on the sidelines of Singapore International Energy Week here. Formed in December 2015, the AIIB has to date funded sovereign Indian infrastructure projects to the tune of USD 10 billion. This works out to more than 20 per cent of AIIB's total infrastructure project funding. For this year, the bank has lent more than USD 1.3billion to Indian projects, including USD 438 million for the Chennai Metro Rail Phase 2 Project (Balance Corridor 5) and USD 250 million for the Second Dam Rehabilitation and ...

FM urges AIIB to scale up investment in renewal energy, smart technologies

Finance Minister Nirmala Sitharaman on Friday asked the Asian Infrastructure Investment Bank (AIIB) to scale up investment in renewal energy and smart technologies and also urged the multilateral agency to set up a regional office in India. AIIB President Jin Liqun called upon the finance minister here and discussed various issues of relevance to the bank. "While appreciating AIIB's growing portfolio in India, FM Smt.@nsitharaman suggested that @AIIB_Official should scale-up #investments and mobilise private finance in India's key priority areas including #RenewableEnergy, #EnergyEfficiency and climate #SmartTechnologies," the finance ministry said in a tweet. India is a founding member of AIIB with the second-highest voting share. India holds 7.74 per cent equity in the multilateral bank, next only to China (29.9 per cent). "As India is the largest client of @AIIB_Official, FM Smt.@nsitharaman reiterated that AIIB should plan to set up a regional presence in India to facilitate .

No plan to set up resident board in Beijing, says AIIB chief economist

Berglof said AIIB wants to do it differently from how other multilateral developments banks have done

A major recession in developed countries is unlikely: AIIB chief economist

We will have inflation at an elevated level for some time, says AIIB chief economist Erik Berglof

AIIB puts its projects in Russia, Belarus on hold due to Ukraine crisis

The bank's decision was regarded as noteworthy considering that Russia is its third-largest shareholder

AIIB to invest $150 mn in development of data centres serving Asia

Many low- and mid-income countries lack their own domestic data infrastructure, and the disparities in data center penetration among countries with different income levels are wide

Ex-RBI governor Urjit Patel appointed as vice president of AIIB

Former RBI governor Urjit Patel was on Tuesday appointed as vice president for investment operations in South Asia at the Beijing-based Asian Infrastructure Investment Bank (AIIB)

Former RBI Governor Urjit Patel appointed Vice President of AIIB

Former RBI Governor Urjit Patel has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, according to sources in the bank on Sunday. India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second highest voting share after China. It is headed by former Chinese vice minister for finance Jin Liqun. Patel, 58, will be one of the five Vice Presidents of the AIIB with a three-year tenure. He is expected to take over his posting next month. He will succeed outgoing Vice President D J Pandian, who is in charge of sovereign and non-sovereign lending of the AIIB in South Asia, the Pacific Islands and South-East Asia, AIIB sources told PTI. Pandian, who has previously served as the chief secretary of Gujarat, is set to return to India later this month. Patel had taken over as the 24th Governor of the Reserve Bank of India (RBI) succeeding Raghuram Rajan on September 5, 2016. Patel resigned in December, 2018 "on accoun

Sustainability will be the key driver for growth: AIIB's Erik Berglöf

Countries offering decarbonisation opportunities will be more competitive, says AIIB chief economist Erik Berglöf

Stimulus package and reforms have put economy on track: FM Sitharaman

She took part in the annual meeting of the board of governors of Asian Infrastructure Investment Bank (AIIB) via video conference

AIIB to extend $356 mn loan for Chennai Metro Rail expansion

Phase-2 of the project will ensure seamless multimodal transport across Chennai, with integrated access to suburban rail, bus stations and the main airport

India needs more to convince banks, NBFCs to lend to MSMEs: AIIB economist

The Indian government needs to take more steps to encourage banks and NBFCs to lend more to MSMEs, according to Asian Infrastructure Investment Bank (AIIB) Senior Economist Abhijit Sengupta.

Centre signs $304 mn pact with AIIB for power transmission network in Assam

The total estimated cost of the project is $365 million, of which $304 million will be financed by the AIIB and rest by the state government

China-backed AIIB to help vaccine rollout, expects steady lending in 2021

The Beijing-backed Asian Infrastructure Investment Bank (AIIB) will follow other development banks in helping to finance the rollout of vaccines, its president said

AIIB in talks with India for financing of $8-billion health infra scheme

The Beijing-based multilateral funding agency had earlier approved a financial assistance of $1.2 billion for India to fight the Covid-19 pandemic