AIIB to provide $1.5 billion in loans for India’s infrastructure in 2018

The Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion worth of loans to India for infrastructure-related projects in 2018. The funds will be used for investment in energy, road and urban development projects, and the bank will examine allotting more funds for such projects next year. AIIB’s loans include a $200 million commitment to the National Investment and Infrastructure Fund (NIIF) to spend on roads, housing and urban development, and the bank will let the government decide how to use the funds.