India’s $ 8 billion health infra project may get funds from AIIB with China’s highest share

China holds the largest 26.63% stake in AIIB
India is the second largest voter in the bank with 7.65% stake

A $ 8 billion health infrastructure scheme of the country could get a loan from the Asian Infrastructure Investment Bank (AIIB). AIIB, like the World Bank or Asian Development Bank, is also an international bank. China has the largest share of 26.63 per cent in this.

AIIB Vice President DK Pandian said that the bank which is headquartered in China is in talks with the Indian government to fund the project. Under this scheme, health infrastructure will be improved in every district of the country, so that any future health crisis can be dealt with in a better way. The World Bank and Asian Development Bank are also talking to the Ministry of Health regarding this project.

AIIB loan can be approved this year

He said that if everything goes right, then this year the loan of AIIB can get government approval. The bank, headquartered in Beijing, China, has already given India a loan of $ 1.2 billion to deal with coronavirus.

Founder member of Bank of India

India holds the second largest 7.65 per cent stake in AIIB. This multilateral bank was established in 2016. The bank is headquartered in Beijing, China. India is also a founding member of this bank.

AIIB has given maximum debt to India

AIIB has so far given the highest 25 per cent debt to India. Since inception, AIIB has approved a total of $ 19.6 billion in loans for 87 projects in 24 economies by 16 July 2020. Of this, AIIB has approved a $ 4.3 billion loan for 17 projects in India.