Asian Infrastructure Investment Bank (AIIB) Current Affairs, GK & News

AIIB to provide $304 million for Assam Power Transmission Project

The Finance Ministry has announced that, the Central government has signed a loan agreement with the Asian Infrastructure Investment Bank (AIIB) for the Assam Power Transmission Project. Key Points The loan agreement was signed worth $304 million. This loan will be used for strengthening electricity transmission system in the state of Assam. The agreement for ..

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NDB to invest $100 Million into NIIF Fund of Funds

The New Development Bank (NDB) has announced to invest $100 million into the NIIF Fund of Funds (FoF). Highlights With the NDB’s investment of $100 million, the NIIF FoF has now secured $800 million in commitments. NDB has joined the Asian Infrastructure Investment Bank (AIIB), Government of India (GoI) and Asian Development Bank (ADB) as ..

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World Bank approves 1 billion USD to India

On May 15, 2020, the World Bank approved 1 billion USD aid to India to accelerate “India’s COVID-19 Special Protection Response Programme”. The fund will be used to provide social assistance to poor, severely impacted and vulnerable households. Highlights Of the 1 billion USD aid, around 550 million USD is to be credited by the ..

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AIIB sanctions 145 million USD loan for Major Irrigation Project of West Bengal

On May 15, 2020, the Asian Infrastructure Investment Bank approves a loan of 145 million USD to improve irrigation facilities and flood management West Bengal Highlights The project is to focus on the Damodar Valley of West Bengal. It will benefit more than 2.7 million farmers spread across five districts of West Bengal. The total ..

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ADB approves 1.5 billion USD for India to fight COVID-19

On April 28, 2020, the Asian Development Bank approved 1.5 billion USD loan to support the Indian Government in its actions against the spread of COVID-19 crisis. The fund is to be used in disease containments, social protection and disease prevention. Highlights The loan sanctioned by the ADB is to be used for social protection ..

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