Sitharaman urges AIIB to ramp up India investments

22 Nov 2022 CW Team

Finance Minister Nirmala Sitharaman last week urged the Asian Infrastructure Investment Bank (AIIB) to scale up investments and mobilise private finance in India's priority areas like renewable energy, energy efficiency and climate-smart technologies. She made the request to AIIB President Jin Liqun, whom she met in her capacity as the governor of the second largest shareholder of the bank.

As India is the largest client of the AIIB, the finance minister reiterated during the meeting that the bank should consider setting up a regional presence in India.

While appreciating the AIIB's growing portfolio in India, Sitharaman suggested that it should shore up investments in key areas like renewable energy and climate technologies.

October 26, the finance minister had attended the 7th annual meeting of the Board of Governors of the AIIB, where it was decided that the bank will ramp up investments in priority areas for India like clean energy and infrastructure, with a special focus on education and health.

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