According to reports, India has emerged as a top borrower from the China-sponsored Asian Infrastructure Investment Bank (AIIB) with USD 1.5 billion worth of loans last year and USD three billion more in the pipeline.
As per reports, India's Ambassador Gautam Bambawale met AIIB President Jin Liqun in Beijing and held in-depth talks on deepening India's engagements with the bank.
Commenting on the issue, a Government Official told the media, “Bambawale's meeting with Jin, a former Vice Finance Minister of China assumed significance as the China-sponsored bank has granted USD 1.5 billion worth of loans for various infrastructure projects last year the highest compared to all the countries.”
“Next to India, Indonesia has emerged as the second largest borrower with about USD 600 million loans,” he added.
As per reports, significantly in the pipeline for lending for India by the 84-member bank this year include USD 3.5 billion worth of projects including Mumbai Metro, Andhra Pradesh new capital Amaravati's development and irrigation network in West Bengal.