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AIIB Officially Approved the First Financing Projects

 
The Asian Infrastructure Investment Bank (AIIB), which was led and invested in operation by China in this January recently announced that it has approved the first batch of 4 financing plans with a total amount of about US$500 million.
For some people, AIIB headquartered in Beijing is in the opposing relationship with World Bank and the Asian Development Bank (ADB) established in Philippines in 1966. But at its Council on the same day of Friday (June 24), the bank said the first financing projects since its establishment will be located in Pakistan, Indonesia, Tajikistan and Bangladesh. Related financing projects will be coordinated and implemented by AIIB, World Bank, ADB and other international financial institutions.
As reported by Agence France-Presse, the financing projects include US$165 million for power grid of Bangladesh, US$216.5 million for Indonesian slum improvement, US$100 million for a 4-lane highway construction for Pakistan and US$27.5 million for a road construction and upgrading in Tajikistan.
In the first year of the investment operations of AIIB, the bank plans to approve the financing plans of about US$1.2 billion and review another batch of financing projects before the end of this year.
 
Time:2016-6-26 Click:2266