PM Narendra Modi vision for AIIB: 10x jump to $40 bn by 2020, $100 bn by 2025
Prime Minister Narendra Modi also set big targets for AIIB. He asked it to expand its loan book by 10 times to $40 billion by 2020 and $100 billion by 2025.
India has emerged as a bright spot in the global economy, said Prime Minister Narendra Modi, inaugurating the third annual meeting of the Asian Infrastructure Investment Bank (AIIB) in Mumbai today. He said that finding resources for infrastructure creation is a challenge, but AIIB can play a crucial role in raising them.
Further, PM Modi said that interest rates offered by AIIB need to be affordable and sustainable, while addressing the AIIB function. The theme for this year`s meeting is "Mobilizing Finance for Infrastructure: Innovation and Collaboration."
PM Modi also set big targets for AIIB. He asked it to expand its loan book by 10 times to $40 billion by 2020 and $100 billion by 2025.
Leaders from varied organisations and levels of government are sharing ideas and experiences for creating a sustainable future through sound infrastructure investment.
This year will also see the launch of inaugural Asian Infrastructure Forum, which will gather infrastructure practitioners in a practical and project-driven discourse, focused on matching innovative finance to critical infrastructure needs.
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After his address, the Prime Minister will also meet business leaders and captains of the industry for a discussion on issues including economic growth, infrastructure development, policy initiatives, investment, innovation and job creation.