The Asian Infrastructure Investment Bank (AIIB) Vice President (Investment Operations) and Chief Investment Officer Dr. D. J. Pandian has hailed the leadership of Prime Minister Narendra Modi for India’s infrastructure push. Dr. Pandian said, India’s infrastructure requirement is unimaginable and the Government of India under Prime Minister Modi’s leadership has come out with a big pipeline of infrastructure projects amounting to more than two trillion US Dollars.
He said, AIIB is committed to strengthen the infrastructure in India and will work with the government very closely to spread infrastructure development across the country. Talking to Prasar Bharati correspondent in Beijing, Dr. Pandian said, the AIIB has approved a loan of 150 million dollars for Chennai Metropolitan Area (CMA) project. He said that India is the largest beneficiary of Beijing-based AIIB and the bank has so far approved 29 projects for India worth 6.8 billion dollars. The energy and transport sectors have received the highest amount of AIIB’s financing.
Dr. Pandian said, another 27 projects worth five billion dollars are in pipeline for India including Haryana Orbital Railway project which will be a Circular Railway to National Capital Delhi, multi-corridor transport project in Mumbai and digital education project in Gujarat. Dwelling upon the challenges in a post-pandemic world, Dr. Pandian said, many countries are struggling hard to do infrastructure projects. Regarding opening an AIIB Regional Office in India, he said if the business grows, we need to think about opening offices in countries where more projects are going on, but it will take some time. The Government of India has been continuously requesting for it, he added.