New Delhi
While the Centre is unlikely to provide China with investment and trade opportunities similar to the last six years, it has not tried to sign off China-led lending institutions after the Galwan valley clash of June 15.
Union Finance Minister Nirmala Sitharaman attended the annual meeting 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 indicated India’s desire to borrow more from AIIB by asking it to fast-track financial assistance of about $10 billion to its member countries, including India, to combat Covid-19 pandemic.
In May, India had taken a $500 million Covid project from AIIB. It also borrowed $1 billion from the Shanghai-based New Development Bank. — TNS
