China-backed AIIB approves USD 329 million loan for Gujarat rural roads

Posted on:06 Jul 2017 11:22:18
China-backed AIIB approves USD 329 million loan for Gujarat rural roads
06 July 2017 Current Affairs: China-led Asian Infrastructure Investment Bank (AIIB) board approved 329 million loans to build access roads to 4,000 villages in Gujarat.

The project will also better integrate rural population, tribal villages, business, and industries with the national and state economy through better transport connectivity.

AIIB is a multilateral development bank which commenced its operation in January 2016 and has now grown to 80 approved members from around the world.

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