AIIB to invest $100 mn in infra fund

The board of China’s Asian Infrastructure Investment Bank (AIIB) has approved $100 million investment in the National Infrastructure and Investment Fund (NIIF) which could be followed by a similar tranche later, Piyush Goyal, the minister in charge of finance, said. This is the first time that the India is hosting the annual meeting of AIIB, which would be addressed by Prime Minister Narendra Modi tomorrow. India is the second largest shareholder in AIIB after China and is also the largest recipient of funds from the multilateral agency.