December 2016 Current Affairs

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AIIB approves first loans for projects in four countries

AIIB approves first loans for projects in four countries
27 June 2016 Current Affairs: The China-led Asian Infrastructure Investment Bank (AIIB) has approved first set of loans totalling 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.

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 (ADB) and the United Kingdom’s Department for International Development (DFID). 

Tajikistan : US 27.5 million dollars loan for the Dushanbe-Uzbekistan Border Road Improvement Project. It will be co-financed with the European Bank for Reconstruction and Development (EBRD).

These loans will have an interest rate of London Interbank Offered Rate (LIBOR) plus 1.15 % and a repayment period of 25 years with 5 years in grace period. These projects spanning in the energy, transport and urban development sectors will help to bridge the region’s critical infrastructure financing gap. It will also help to strengthen regional connectivity.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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