Five Infrastructure Projects To Come Up For AIIB Consideration

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Five proposed infrastructure projects of the country will soon come up for consideration by the Beijing-based Asian Infrastructure, Investment Bank (AIIB) for funding, a senior official of the bank. The bank has already cleared USD 1.07 billion for funding of five projects in the country, senior investment operations specialist of the bank Soon-sik Lee said. “Apart from the existing projects, five new initiatives have been proposed before the AIIB,” Lee said at a symposium on Mass Rapid Transport Systems for Urban Transport here. Mumbai Metro Line 4 project, West Bengal Major Irrigation and Flood Management Project, National Investment and Infrastructure Fund, Madhya Pradesh Rural Connectivity Project and Amravati Sustainable Capital City Development Project are the proposed projects pending for consideration by the AIIB board, Lee said. The largest among these is that for the Mumbai Metro Line 4, which has sought USD 500 million. The Mumbai, Amravati and Madhya Pradesh projects are scheduled to be taken up for consideration by the board will come up before the board in September 2018.