AIIB approves $356 mn loan for Phase II of Chennai Metro Rail

The Asian Infrastructure Investment Bank (AIIB) has approved a loan worth US $356.67 million to support the expansion of Chennai Metro Rail (CMRL).
The fund will be used for the construction of a new metro corridor as part of CMRL’s Phase-II development project.
With this investment, the Beijing-based financial institution’s total financing in India for various projects has reached to $6.7 billion, making India its largest beneficiary, in terms of getting approvals for many projects.
AIIB has approved funding for 28 projects in India, with the energy and transport sectors receiving the highest amount of AIIB’s financing.

Points to Remember:

How much amount has been approved by AIIB for Phase II of Chennai Metro Rail (CMRL) development project?
Which bank has approved $356.67 million for expansion of Chennai Metro Rail (CMRL)?
How much amount of fund in loan has been approved by AIIB in India for various projects?
Headquarter of AIIB