February 27, 2018 / 9:06 AM / 3 months ago

AIIB approves $1.5 bln of loans to India for infrastructure projects

NEW DELHI, Feb 27 (Reuters) - China-based Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion in loans to India for infrastructure-related projects in 2018, a senior official of the AIIB said on Tuesday.

The funds would be used for investment in India’s energy, roads and urban development projects, and the bank will examine allotting more funds for such projects next year, D.J. Pandian, the AIIB’s chief investment officer said. (Reporting by Neha Dasgupta Editing by Jacqueline Wong)

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