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AIIB approves $324m in infrastructure

The Asian Infrastructure Investment Bank said on Thursday it has approved two loans and one equity investment worth $324 million in Georgia, Tajikistan and India. The bank's first ever equity investment of $150 million aims to help attract private capital for infrastructure projects in India, the AIIB said in an emailed statement. "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, AIIB vice-president, in the statement. "These three projects demonstrate a growing sophistication in our ability to support our member countries across different regions and sectors." The Beijing-based AIIB, formed in January 2016, aims to provide infrastructure financing in the Asia-Pacific region. The multilateral development bank has been viewed as a rival to the Western-dominated World Bank and Asian Development Bank.

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