Govt of India, Govt of Maharashtra, Mumbai Railway Vikas Corp. (MRVC) and the Asian Infrastructure Investment Bank (AIIB) today signed a loan agreement for a $500 million Mumbai Urban Transport Project-III to improve the network capacity, service quality and safety of the suburban railway system in the country’s commercial centre.

Jin Liqun has been elected to a second term as President of the Asian Infrastructure Investment Bank (AIIB) by the bank’s board of governors. The election result was announced by the chair of AIIB’s board of governors during the bank’s fifth annual meeting on Tuesday.

About 3.3 million people in Andhra Pradesh will have access to safe drinking water following the approval of a $400 million loan by the Asian Infrastructure Investment Bank’s (AIIB) Board of Directors.

INFRASTRUCTURE TODAY spoke to the then interim Finance Minister on the sidelines of AIIB Annual General Meeting in a length over various issues, especially funding for infrastructure.

The board of directors of the Asian Infrastructure Investment Bank (AIIB) has approved to sanction USD 455 million loan for the rural development of Andhra Pradesh.

Total order backlog of the engineering and construction firms was Rs.8.1 trillion at the end of FY18. Of the whole order backlog, almost 62 per cent was contributed by the construction companies, followed by 24 per cent of capital goods companies catering to the energy industry.

India, the second-largest shareholder in the $100-billion Asian Infrastructure Investment Bank (AIIB) has emerged as the largest market for the bank due to the size of its economy.

Creating infrastructure will need a whopping $4.5 trillion investments over the next decade and the cost of the money will be a challenge, finance minister Piyush Goyal said.

Earlier, AIIB had committed Rs 75 billion in projects that included a rural connectivity project in Madhya Pradesh; the Bangalore Metro; power transmission in Tamil Nadu; rural roads in Gujarat; and the power-for-all project in Andhra Pradesh.