AIIB to give $210 million loan for irrigation & solar energy projects

The Asian Infrastructure Investment Bank (AIIB) has announced a loan of $210 million for irrigation and solar energy projects in India. The bank will lend $145 million to improve irrigation services and strengthen flood risk management in West Bengal. The irrigation project in West Bengal is co-financed by the World Bank and is expected to strengthen the management of the Damodar Valley Command Area irrigation scheme. The bank will also lend $65 million for a 250-megawatt (MW) solar project in Rajasthan.

Important takeaways for all competitive exams:

  • President of AIIB: Jin Liqun; Headquarter: Beijing, China.

Source: The Business Standard

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