Lok Sabha Question No. 146 (STARRED), answered on 2018-07-27
Subject: AIIB Loans
Ministry: FINANCE
Asked by: KIRIT SOMAIYA, KAVITHA KALVAKUNTLA

No. 146

## Dr. KIRIT SOMAIYA: SHRIMATI KAVITHA KALVAKUNTLA

Will the Minister of FINANCE be pleased to state:

- (a) whether India has sought project financing from the Asian Infrastructure Investment Bank (AIIB) and if s0, the details thereof;
- (c) the details of projects that are being financedlwould be financed from AIIB loans, amountproject-wise;
- (b) the quantum of financinglgrants received by India from AlIB till date along with the rate of interest being charged;
- (d) whether the Government has contributed any corpus fund to the formation of AIIB and if so, the details thereof; and
- (e) the total amount of loan grantedlsanctioned by AIIB \_ to various countrieslprojects during the last three years, countrylproject-wise?

## ANSWER

FINANCE MINISTER

(SHRI PIYUSH GOYAL)

(a) to (e): A statement is laid on the table of the House:

## Government of India Ministry of Finance

## Department of Economic Affairs

## LOK SABHA STARRED QUESTION NO. 146

TO BE ANSWERED ON FRIDAY, JULY 27,2018/SHRAVANA 5, 1940 (SAKA)

## AIIB LOANS"

## JULY2018BY DR KIRIT 27th

- (a) to (c): Yes Madam; India has posed 13 projects costing USS 3.276 billion for project financing from the Asian Infrastructure Investment Bank (AIIB): Out of these, 7 Projects have already been approved by AIIB for financing of USS1.314 billion  Legal agreements for 4 projects have been foy the 4 signed projects is based on LIBOR+ @ fixed spread of 0.75% t 1.30%   depending upon tenor of the loan: The   remaining 6 to AIIB, amounting to USS 1.982 Billion are to be approved: The details of the Projects are attached as Annexure-I projects yet posed
- (d) The Government has   approved India's   capital   contribution of capital to be in five equal instalments  So far, a total amount of USS 1.0041 Billion has been in the form of 3 instalments each of USS334.7 million: paid paid
- (e) In the last three years, 28 projects have been approved by AIIB for 14 Countriesl for  financing of approximately USS 5 billion: Details are attached as Annexure- II. regions

| No:   | Name of Project                                                                                                              |   Financing (in USD Million) |   Project Size (in USD Million) | Status             | Interest Rate (in percentage)   | Amount Disbursed (in USD Million)   | Tenor (in years)                    |
|-------|------------------------------------------------------------------------------------------------------------------------------|------------------------------|---------------------------------|--------------------|---------------------------------|-------------------------------------|-------------------------------------|
|       | 24*7 Power for All in Andhra Pradesh financed with World Bank) (Co-                                                          |                          160 |                          800    | Approved           | 3.53                            | 11.6                                | 19 (including 5 years grace period  |
| 2     | Gujarat Rural Road Development- Phase 1                                                                                      |                          329 |                         1153.8  | Approved           |                                 | 141.9                               | 13 (including 5 grace years period) |
| 3_    | AC Transmission System strengthening Project implemented by PGCIL (Co-financed with ADB)                                     |                          100 |                          300    | Approved           | 3.28                            | 4.7                                 | 11 (including 3 years grace period) |
| 4     | Madhya Pradesh Rural Connectivity Project (Co-financed with WB)                                                              |                          140 |                          500    | Approved           | 3.83                            |                                     | 25 (including 5 grace years period  |
| 5_    | Bangalore Metro Rail Project Line R6 (Co- financed with EIB)                                                                 |                          335 |                         1785    | Approved           | Loan agreement to be Signed yet |                                     | Loan yeteo bent Signed yet          |
| 6     | National Investment Infrastructure Fund (Phase I)                                                                            |                          100 |                         6000    | Approved           | Equity Investment               |                                     |                                     |
| 7_    | Morgan Stanley India Infrastructure Fund                                                                                     |                          150 |                          750    | Approved           | Equity Investment               |                                     | Eqisynent                           |
| 8_    | Development of a Satellite Port of JNPT at Vadhavan, dahanu taluka District Palghar, Maharashtra (To be CO- finance wth ADB) |                          282 |                         1410    | Yet to be approved |                                 |                                     |                                     |
| 9     | Amravati sustainable Capital Development Project be cO-financed with WB) city (To                                            |                          200 |                          715    | Yet to be approved |                                 |                                     |                                     |
| 10.   | West Bengal Major Irrigation and Flood management (To be cO- financed with WB)                                               |                          145 |                          413    | Yet to be approved |                                 |                                     |                                     |
| 11.   | Andhra Pradesh Urban Water Supply and Septoemena                                                                             |                          405 |                          555.67 | Yet to be approved |                                 |                                     |                                     |
| 12    | Mumbai Urban Transport Project Phase 3                                                                                       |                          475 |                         1356    | Yet to be approved |                                 |                                     |                                     |
| 13    | Andhra Pradesh rural Road connectivity to unconnected habitations of250+ population                                          |                          455 |                          651.38 | Yet to be approved |                                 |                                     |                                     |
|       | Grand Total                                                                                                                  |                         3276 |                        16389.8  |                    |                                 | 158.2                               |                                     |

## Annexure IL

## AIIB Approved Projects for\_various Countries[Regions

| S.No   | PROJECT NAME                                                         | Sector           | Countryl Region   | Total Project Cost (USD Million)   | Financing Plan (USD Million)   | Financing Plan (USD Million)   | Financing Plan (USD Million)            |
|--------|----------------------------------------------------------------------|------------------|-------------------|------------------------------------|--------------------------------|--------------------------------|-----------------------------------------|
|        |                                                                      |                  |                   |                                    | AIIB                           | WB                             | Other Financing Options                 |
| 1      | Strategic Irrigation Modernization and Urgent Rehabilitation Project | Water/Irrigation | INDONESIA         | 578                                | 250                            | 250                            | Borrower-78                             |
| 2      | Tuz Golu Gas Storage Expansion Project                               | Energy           | TURKEY            | 2735                               | 600                            | 600                            | Islamic Development Bank-350 BOTAS: 735 |
| 2      |                                                                      | Energy           |                   |                                    |                                |                                | Commercial Loans: 450                   |
| 3      | National Investment and Infrastructure Fund                          | Multi Sector     | INDIA             | 6000*                              | 100                            |                                | Gol-3000                                |

|    | Madhya Pradesh Rural Connectivity Project                    | Transport/Road         | INDIA       | 502   | 140                                                                                                                                                                                                                                                                                                   | 210                                                                                                                                                                                                                                                                                                   | GoMP-152                                                                                                                                                                                                                                                                                              |
|----|--------------------------------------------------------------|------------------------|-------------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5  | Bangladesh Bhola IPP                                         | Energy                 | BANGLADESH  | 271   | 60                                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                       | Borrower-211                                                                                                                                                                                                                                                                                          |
|    | Beijing Air Quality Improvement and Coal Replacement Project | Energy                 | CHINA       | 761,1 | 250                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                       | Beijing Municipality- 228.33 China CDM Fund- 30 Beijing Gas: 252.77                                                                                                                                                                                                                                   |
| 7  | Broadband Infrastructure Project                             | Telecommunications     | OMAN        | 467   | Project is to be funded by equity, debt and operating cash flow from its on-going operation. The financing plan envisages a long-term debt financing with the combination of A Loan and B Loan in total of approximately USD239 million; (USD 239 Million is not taken while calculating Grand Total) | Project is to be funded by equity, debt and operating cash flow from its on-going operation. The financing plan envisages a long-term debt financing with the combination of A Loan and B Loan in total of approximately USD239 million; (USD 239 Million is not taken while calculating Grand Total) | Project is to be funded by equity, debt and operating cash flow from its on-going operation. The financing plan envisages a long-term debt financing with the combination of A Loan and B Loan in total of approximately USD239 million; (USD 239 Million is not taken while calculating Grand Total) |
| 8  | Bangalore Metro Rail Project _ Line R6                       | Transport              | INDIA       | 1785  | 335                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                       | EIB Tranche A: 350                                                                                                                                                                                                                                                                                    |
| 8  | Bangalore Metro Rail Project _ Line R6                       | Transport              | INDIA       | 1785  | 335                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                       | EIB Tranche A: 233                                                                                                                                                                                                                                                                                    |
| 8  | Bangalore Metro Rail Project _ Line R6                       | Transport              | INDIA       | 1785  | 335                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                       | Gol-255 Government of                                                                                                                                                                                                                                                                                 |
| 8  | Bangalore Metro Rail Project _ Line R6                       | Transport              | INDIA       | 1785  | 335                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                       | Karnataka-612                                                                                                                                                                                                                                                                                         |
|    | Metro Manila Flood                                           | Water/Flood Management | PHILIPPINES | 500   | 207.60320 5                                                                                                                                                                                                                                                                                           | USS207,603,205                                                                                                                                                                                                                                                                                        | GoP: USS84,793,590                                                                                                                                                                                                                                                                                    |

|    | Management Project'                                                                                                                                        |                   |       |        |                                                   |    |                           |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------|-------|--------|---------------------------------------------------|----|---------------------------|
| 10 | IFC Emerging Asia Fund                                                                                                                                     | Multi Sector      | ASIA  | 640    | 150                                               |    | IFC-150                   |
| 10 | IFC Emerging Asia Fund                                                                                                                                     | Multi Sector      | ASIA  | 640    | 150                                               |    | Other Investors- 340      |
| 11 | Transmission System Strengthening Project                                                                                                                  | Energy            | INDIA | 303.47 | 100                                               |    | ADB-5O                    |
| 11 | Transmission System Strengthening Project                                                                                                                  | Energy            | INDIA | 303.47 | 100                                               |    | Borrower-153.47           |
|    | Egypt Round Solar PV Feed-in Tariffs Program- Egypt Round Il Solar PV Feed-in Tariffs Program (the Project) consists of 11 photovoltaic solar power plants | Energy            | EGYPT |        | 17.5-19 (19 is taken for calculating Grand Total) | 12 | IFC and other lenders -41 |
| 13 | Gujarat Rural Roads (MMGSY) Project                                                                                                                        | Transport (Roads) | INDIA | 658    | 329                                               |    | Govt: of Gujarat: 329     |

|   14 | Nurek Hydropower Rehabilitation Project, Phase [              | Energy Hydropower                       | TAJIKISTAN   | 350   | 60   | IDA -225.7 co-financing) Financing gap: 24.3   |
|------|---------------------------------------------------------------|-----------------------------------------|--------------|-------|------|------------------------------------------------|
|   14 |                                                               |                                         |              |       |      | EaDB-4O(parallel                               |
|   15 | India Infrastructure Fund                                     | Multi-Sector                            | INDIA        |       | 150  | Other Investors- 600                           |
|   16 | Batumi Bypass _ Road Project                                  | Transportation/ Roads                   | GEORGIA      | 315.2 | 114  | ADB: 114.0                                     |
|   16 |                                                               |                                         |              |       |      | Government: 87.2                               |
|   17 | Andhra Pradesh 24x7 Power For All                             | Power                                   | INDIA        | 571   | 160  | Govt: of Andhra Pradesh: 171                   |
|   18 | Natural Gas Infrastructure and Efficiency Improvement Project | Natural Gas Production and Transmission | BANGLADESH   | 453   | 60   | ADB-167                                        |
|   18 | Natural Gas Infrastructure and Efficiency Improvement Project | Natural Gas Production and Transmission |              |       |      | Domestic Resources-226                         |

|   19 | Dam Operational Improvement and Safety Project Phase II   | Dams and Water Resource Management   | INDONESIA   | 300    | 125   | 125   | Gol-50                  |
|------|-----------------------------------------------------------|--------------------------------------|-------------|--------|-------|-------|-------------------------|
|   20 | Regional Infrastructure Development Fund Project          | Multi Sector                         | INDONESIA   | 406    | 100   | 100   | GOl:203                 |
|   20 |                                                           |                                      |             |        |       |       | SECO:                   |
|   20 |                                                           |                                      |             |        |       |       | Borrower's: 1400        |
|   20 |                                                           |                                      |             |        |       |       | EIB Loan: 1300          |
|   20 |                                                           |                                      |             |        |       |       | EBRD Loan: 500          |
|   20 | Trans Anatolian Natural Gas                               | Energy (Oil & Gas)                   | AZERBAIJAN  | 8600   | 600   | 800   | BOTAS, Turkey 1000      |
|   21 | Pipeline Project                                          |                                      |             |        |       |       | BP (British             |
|   20 | (TANAP)                                                   |                                      |             |        |       |       | Private                 |
|   20 |                                                           |                                      |             |        |       |       | Commercial Sources:2000 |
|   22 | Dugm Port Commercial Terminal and Operational Zone        | Transport Port                       | OMAN        | 353.33 | 265   | 88.33 | SEZAD: 88.33            |
|   22 | Development Project                                       |                                      |             |        |       |       |                         |

|   23 | Myingyan Power Plant Project                      | Energy                                                                            | MYANMAR    |     304 |    20 |               | IFC                          |
|------|---------------------------------------------------|-----------------------------------------------------------------------------------|------------|---------|-------|---------------|------------------------------|
|   24 | Tarbela 5 Hydropower Extension Project            | Hydropower Energy                                                                 | PAKISTAN   |  823.5  | 300   | 390 GoP-823.5 | ADB                          |
|   25 | National Slum Upgrading Project                   | Other Social Services (20%), Urban Transport (20%) , Solid Waste Management (60%) | INDONESIA  | 1743    | 216.5 | 216.5         | Recipient-1300               |
|   26 | National Motorway M-4 Project                     | Transport_ Roads and Highways                                                     | PAKISTAN   |  273    | 100   | ADB-1OO       | Department for International |
|   27 | Distribution System Upgrade and Expansion Project | Energy                                                                            | BANGLADESH |  262.29 | 165   | GoP-39        | GoP-39                       |

| Dushanbe- Uzbekistan Border Road Improvement Project   | Transport Roads and Highways   | TAJIKISTAN   | 105.9       | 27.5         | EBRD-62.5   |
|--------------------------------------------------------|--------------------------------|--------------|-------------|--------------|-------------|
|                                                        |                                |              |             | 5003.6032 05 |             |
| Grand Total                                            | Grand Total                    | Grand Total  | Grand Total | 5.0 bn       |             |