AIIB shakes Obor label by investing in India
Commitment of US$150 million is bank's first equity investment
The Asset reports that China’s Asian Infrastructure Investment Bank (AIIB) will make a US$150 million commitment to the India Infrastructure Fund. It will reportedly be the AIIB’s first equity investment.
India has been critical of China’s One Belt One Road (Obor) project to create an integrated economic zone stretching from its borders to Central Asia and Europe. The AIIB is viewed by many to be a financing arm for Obor. But the AIIB’s cash infusion for Indian infrastructure is seen as a gesture by Beijing to shrug off AIIB’s Obor label and conduct some friendly geopolitics with New Delhi.