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AIIB announces USD 210 mn loan

Asian Infrastructure Investment Bank (AIIB) announced a total loan of USD 210 mn for irrigation and solar energy projects in India.

AIIB announces USD 210 mn loan

New Delhi

The institution will lend $145 mn to improve irrigation services and strengthen flood risk management in West Bengal, while $65 mn has been earmarked for a 250-MW solar project in Rajasthan promoted by Hero Future Energies. India, its second-largest shareholder, is the largest recipient of its loan and equity commitments. Commitments to India stand at $3 bn, a third of a total of $10 bn. The funds will also be used to modernise irrigation infrastructure at main, branch, distributary and minor canal levels and invest in structural measures to reduce flooding in the project area.

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