AIIB Grants Rs13,000 cr Loan to Andhra Pradesh

China-sponsored Asian Infrastructure Investment Bank (AIIB) approved USD 2 million loan (Rs. 13,000 crores) for five projects in Andhra Pradesh.
The five projects include two roads and buildings department, one each for rural safe drinking water department, municipal and urban development department and Panchayat Raj department.
Important Takeaways from the above News:
  • Jin Liqun is present president of the Asian Infrastructure Investment Bank (AIIB).
  • Beijing, China is headquarters of AIIB.
Source- The Times of India
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