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5 infrastructure projects to come up for AIIB consideration

Press Trust of India  |  Kolkata 

Five proposed infrastructure projects of the country will come up for consideration by the Beijing-based (AIIB) for funding, a of the said here today.

The has already cleared USD 1.07 billion for funding of five projects in the country, senior investment operations specialist of the bank Soon-sik Lee said.

"Apart from the existing projects, five new initiatives have been proposed before the AIIB," Lee said at a symposium 'Mass Rapid Transport Systems for Urban Transport' here.

Metro Line 4 project, Major Irrigation and Project, National Investment and Infrastructure Fund, Rural Connectivity Project and Amravati Sustainable Capital City Development Project are the proposed projects pending for consideration by the board, Lee said.

Different governmental agencies in have sought USD 1.186 billion from to part these projects, according to the website of the infrastructure investment bank, in which is the largest shareholder.

The largest among these is that for the Metro Line 4, which has sought USD 500 million.

The Mumbai, Amravati and projects are scheduled to be taken up for consideration by the board later this month.

The National Investment and Infrastructure Project is scheduled for consideration in the first quarter of 2018, while the project will come up before the board in September 2018, it said.

The bank, which began operations in January 2016, has so far approved projects with total amount of USD 4.23 billion in 14 member countries, Lee said.

Out of these, has got the largest share of 1.07 billion in funding for five projects in the country, which are for metro connectivity in Bangalore, transmission system strengthening, Infrastructure Fund, power generation in and rural roads in

Lee said that AIIB's third annual meeting will be held at on June 25 and 26 where more than 80 member countries will participate.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 17:40 IST