(Yicai Global) June 16 -- The Asian Infrastructure Investment Bank (AIIB) yesterday approved three new projects totaling USD324 million, including a USD150 million equity investment in the India Infrastructure Fund -- the bank's first ever equity investment.
"Approving our first equity investment is another milestone for the bank and will improve our potential to secure and finance high-quality private-sector projects", said D.J. Pandian, AIIB's vice president and chief investment officer.
The India Infrastructure Fund plans to raise USD750 million, USD150 million of which will come from AIIB. The fund focuses on investing in infrastructure platforms and infrastructure companies with great growth potential in India and on helping local infrastructure projects attract investment from global long-term investors such as public pension funds, endowments and insurance companies to support local infrastructure development.
The AIIB also granted a USD114 million loan for the Georgia Batumi Bypass Road Project and a USD60 million loan for phase one of the Tajikistan Nurek Hydropower Rehabilitation Project yesterday.