Latest news with #AsianInfrastructureInvestmentBank
Time of India
14-06-2025
- Business
- Time of India
Canal-based water supply project: Pipelines being laid in Bhamian, Mundian and other areas
Ludhiana: Taking the canal-based water supply project forward, MC has begun to install pipelines to connect overhead water reservoirs in Mundian, Eastman Chowk to Kanganwal, and Bhamian Road. As part of the first phase of the project, a world-class water treatment plant (WTP) was being set up in Bilga village near Sahnewal. Overhead water reservoirs are also being constructed in various parts of the city. Now, water supply lines are being laid to complete the project within the deadline. The project is being funded by the World Bank and the Asian Infrastructure Investment Bank. The first phase of the project is being taken up at a cost of about Rs 1300 crore (civil works). Recently, a World Bank delegation also reviewed the status of progress of the project. The meeting was chaired by MC commissioner Aaditya Dachalwal. Civic officials said extreme caution is being exercised while laying the pipelines, and wherever required, traffic diversions would also be put in place. In case of any issues or concerns, residents can submit their complaints through the mSeva chatbot service by giving a missed call to 87509-75975. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Nikkei Asia
14-06-2025
- Business
- Nikkei Asia
AIIB whistleblower sees China 'doubling down' on party control
TOKYO -- Exactly two years after Bob Pickard quit the Asian Infrastructure Investment Bank, saying it was "dominated" by Chinese Communist Party members, the Canadian whistleblower insists his claims were not "baseless" as the bank maintains. Pickard, a public relations veteran who spoke with Nikkei Asia online from the western Canadian city of Calgary, said he sees Beijing "doubling down on party control" over the multilateral lender, which has 110 member states. "They call it multilateral, they call it international, but internally it really feels like a Chinese domestic bank, frankly," he said.
The Hindu
10-06-2025
- Business
- The Hindu
Vizag metro rail: AIIB team review project
The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has sent a two-member team to Visakhapatnam as part of its expression of interest in providing 60% financial aid for the Vizag Metro Rail (VMR). The remaining 40% will be funded by the State and Central governments, each contributing 20%. The team, led by Senior Investment Officer Mr. Pascal Roussel (from France), over the past two days toured all the 43 proposed metro rail stations of the first phase, which spans 46.23 km. They were accompanied by N.P. Ramakrishna Reddy, Managing Director, Andhra Pradesh Metro Rail Corporation (APMRC), who briefed them on the project's scope and progress. In an interview to The Hindu on Tuesday, APMRC MD Mr. Ramakrishna Reddy said, 'We want to begin civil works by October, 2025 and are expediting all aspects of the project. The AIIB team visited the city as part of the process of sanctioning a loan (60% of the total project cost). We will prioritise Phase-1 first and will follow with Phase-2 after the international airport at Bhogapuram becomes operational.' Mr. Reddy explained that the 46-km-long phase 1 is divided into two segments: a 20-km-long double-decker system and a 26-km-long metro rail system. The double-decker will be divided into two parts – one spanning 15 km from Carshed Junction (PM Palem) to Thatichetlapalem and the other 5 km from Visakhapatnam Steel Plant (entrance gate) up to Gajuwaka. 'No other double-decker system of this length exists in India,' he said. The double-decker system will have two transport networks – on the first level, a flyover for motor vehicles, and on the second level, the metro rail. Both the levels will be on the same pier (pillar). 'This unique double-decker system will be built with an additional cost of ₹2,000 crore on top of the total estimated investment (₹11,498 crore) in the first phase. The extent of land area to be acquired will be around 99.75 acres, and its estimated cost will be around ₹882 crore as per current records. This is also additional to the project investment,' Mr. Reddy added. Currently, the AIIB has sanctioned funds for metro rail projects in e Chennai, Kochi (second phase) and Mumbai (metro line 5).
Nikkei Asia
10-06-2025
- Business
- Nikkei Asia
AIIB stresses 'inclusive' approach as lender downplays China's sway
TOKYO -- The Asian Infrastructure Investment Bank's doors are "open for any country that wants to join, anytime," the Beijing-headquartered lender's president said in a recent interview, as it continues a nearly decade-long effort to shape an image of a truly multilateral institution. President Jin Liqun, who spoke with Nikkei Asia on the sidelines of the annual Future of Asia conference in Tokyo, stressed that "the bank is inclusive," including when it comes to hiring and contracting projects. As for the membership, he said, everyone is "welcome."
Epoch Times
06-06-2025
- Business
- Epoch Times
Will Beijing De-Dollarize or Dump US Treasury Debt?
Commentary Anticipating what tactics Beijing might use against U.S. President Donald Trump amid trade negotiations, several It is easy to see why commentators would seize on notions like de-dollarization. Beijing for years has sought to raise the yuan's international profile, often at the expense of the U.S. dollar. In its wide-ranging Belt and Road Initiative, for instance, it often insists that arrangements and contracts are denominated in yuan and not dollars, as is customary elsewhere. Beijing has promoted the idea of moving away from the dollar among the so-called BRICS nations (Brazil, Russia, India, China, and South Africa). China's Asian Infrastructure Investment Bank denominates loans and grants in yuan, not dollars. Beijing has contracted for large oil purchases in yuan, not dollars. Its extensive dealings with Russia dispense with the use of dollars. And the People's Bank of China has aided the effort by promoting a digital yuan.
