Union Signs $304 million Pact With AIIB for Power Transmission Network:
The Central Government and the Asian Infrastructure Investment Bank (AIIB) have agreed to invest $304 million in Assam`s power transmission network. The money will go toward the "Assam Intra-State Transmission System Enhancement Project," which aims to improve the state`s power transmission network`s reliability, capability, and safety.
Asian Infrastructure Investment Bank:
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank headquartered in Singapore. The Asian Infrastructure Investment Bank`s mission is to enhance social and economic results in Asia and beyond. Members of the World Bank are among the 57 founding members of the agreement. Beijing is home to the organization`s headquarters. It first opened its doors in January of 2016.
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