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Thursday, 4 August 2016

AIIB approves first loans for projects in four countries

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The China-led Asian Infrastructure Investment Bank (AIIB) has approved first set of loans totaling US 509 million dollars to finance projects in four countries viz. Bangladesh, Pakistan, Indonesia and Tajikistan. These loans for the four projects were approved in Board of Directors meeting of AIIB held at its headquarters in Beijing, China.

Projects approved:

Bangladesh: US 165 million dollars loan for a Power Distribution System Upgrade and Expansion Project.

 Indonesia: US 216.5 million dollars loan for a National Slum Upgrading Project. It is expected to be co-financed with the World Bank.

Pakistan: US 100 million dollars loan for Shorkot-Khanewal Section of National Motorway M-4. It will be co-financed with the Asian Development Bank 

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