Ahead of the annual meeting of the Asian Infrastructure Investment Bank (AIIB), which will kick off on Friday in Jeju Island, South Korea, the bank approved its first equity investment.
The board of directors of the AIIB approved two loans on Thursday and one equity investment totaling 4 million, according to the e-mail the bank sent to the Global Times on Thursday.
The fund will support infrastructure projects in India, Georgia and Tajikistan. It will also make it first equity investment of 0 million, which is dedicated to the India Infrastructure Fund.
The Indian fund is targeting mid-cap infrastructure companies in the country, which will benefit local infrastructure development by enhancing private capital inflows from global investors, the e-mail noted.
The rest of the money is partially dedicated to a highway project in Georgia and a hydropower project in Tajikistan.
The opening ceremony of the annual meeting is to be held on Friday afternoon in Jeju, where AIIB President Jin Liqun will deliver a keynote speech.