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Finance Minister Sitharaman Urges AIIB to Scale Up Investment in Renewable Energy in India

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Finance Minister Sitharaman Urges AIIB to Scale Up Investment in Renewable Energy in India

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Finance Minister Nirmala Sitharaman urged the Asian Infrastructure Investment Bank (AIIB) to increase investments and mobilize private finance in India’s top priority areas, including renewable energy, energy efficiency, and climate smart technology.

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This was her request to Jin Liqun, President of AIIB.

India is the largest client to the AIIB. Sitharaman met Liqun as the Governor of the second-largest shareholder of the bank. Official sources claim that they discussed ongoing and future issues relevant to India and the AIIB.

The Finance Minister reiterated that the ministry should consider setting up a regional presence to facilitate communication and outreach to project officials, sources said.

Sitharaman acknowledged the growing portfolio of AIIB in India and suggested that it should increase investments in key areas such as renewable energy, climate technology, and other important areas.

On October 26, the Finance Minister attended the 7th Annual Meeting of the Board of Governors of AIIB. It was decided there that India’s priority areas like clean energy, infrastructure, and education would be prioritized.

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