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AIIB board of directors approves $509 million loans to finance 4 projects


06-27-2016 03:46 BJT

The Asian Infrastructure Investment Bank held its first annual meeting in Beijing on Saturday. Governors and representatives from 57 founding signatories attended.

The bank's Board of Directors has approved its first 4 loans, 509 million US dollars in total for Bangladesh, Indonesia, Pakistan and Tajikistan. The loans are expected to finance 4 projects that cover energy, transport and urban development.

The aim is to help bridge the gap in infrastructure financing and strengthen regional connectivity.


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