New Delhi, July 29
Though the Centre is not likely to supply China with trade and investment opportunities much like the previous six decades, it hasn’t attempted to signal off China-led lending institutions following the Galwan valley conflict of June 15.
Union Finance Minister Nirmala Sitharaman attended the Yearly assembly of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) through video-conferencing. Chinese President Xi Jinping was the star speaker at the meeting. Speaking at a roundtable, Sitharaman signaled India’s urge to borrow from AIIB by requesting to fast-track financial aid of roughly $10 billion into its member nations, such as India, to fight Covid-19 pandemic.
In May, India had obtained a $500 million Covid job from AIIB. Additionally, it made $1 billion in the Shanghai-based New Development Bank. — TNS