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AIIB approves 150-mln-USD equity investment in India

(Xinhua)    18:46, June 15, 2017

BEIJING, June 15 -- The Asian Infrastructure Investment Bank (AIIB) on Thursday approved its first-ever equity investment, worth 150 million U.S. dollars, to catalyze private capital for infrastructure projects in India.

The investment will go to the India Infrastructure Fund, which aims to invest in mid-cap infrastructure companies in India, according to an AIIB press release.

The deal will benefit local infrastructure development by enhancing private capital inflows from global long-term investors, said the AIIB.

"Approving our first equity investment is another milestone for the bank and will enhance our potential to source and fund high-quality, private sector projects," said D.J. Pandian, vice president and chief investment officer of the AIIB.

Compared with loans, equity investment tends to be riskier but may bring higher returns.

On Thursday, the bank also approved a 114-million-dollar loan for a road project in Georgia and a 60-million-dollar loan for a hydropower plant rehabilitation project in Tajikistan, co-financed with the Asian Development Bank and the World Bank, respectively.

The AIIB was established in 2015 and started operations in January 2016 to provide financing for infrastructure improvement in Asia.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Bianji)

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