India has emerged as the top project funding market for the Asian Infrastructure Investment Bank (AIIB), with a total lending of $10 billion, accounting for over 20% of AIIB's total infrastructure project funding. This was announced by AIIB South Asia Director General Rajat Misra at the Singapore International Energy Week on Wednesday.
The figure is set to grow as more projects are lined up for the coming year, Misra shared with PTI. For this year, AIIB has allocated over $1.3 billion to Indian projects. These include the Chennai Metro (TSX:MRU) Rail Phase 2 Project (Balance Corridor 5) and the Second Dam Rehabilitation and Improvement Project, all of which are currently undergoing rigorous due diligence.
Following India in the list of top recipients of loans from AIIB are China, Turkey, Indonesia, and Bangladesh. The AIIB's significant investment in India underscores the nation's strategic importance in South Asia's infrastructure development landscape.
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