Updated By: LatestGKGS Desk
India is top borrowing country of loans from AIIB China, 3rd Annual meeting
India top borrowing country from the Asian Infrastructure Investment Bank (AIIB) with US $4.4 Billion
India is the largest borrower from The Asian Infrastructure Investment Bank (AIIB), China. India maintains a total project portfolio of US $4.4 Billion as a sum borrowed from AIIB for various infrastructure and development projects since the bank started its operations.
AIIB came into effect in January 2016 headquarter in Beijing, China. AIIB is the first of its kind of Bank where principal contributors are the borrowing member themselves.
Third Annual meeting of AIIB to see 86 member nations across the world in Mumbai, Maharashtra, India on 25th and 26th June 2018.
AIIB has the policy to invest in projects outside Asia as long as they are beneficial to Asia.
Asian countries contribute 75% capital in the bank.
