Finance Minister Piyush Goyal has said the growing need for multi-development bank in the Asian context resonates with the thrust given by Narendra Modi Government towards creating infrastructure.

He was speaking at the Press Conference during the ongoing third meeting of the Asian Infrastructure Investment Bank. He said the Bank has matured in a very short period of time, and is rapidly progressing to be one of the world’s most important infrastructure financiers.

The Minister said neither the Government of India nor any state govt has, in 70 years, had a single international default. This has made India a good investment destination for Infrastructure, he emphasised.

The Minister also informed that the Bank has already funded six projects in India worth 1.2 billion USD and one more project has been approved. He also said that the Government is focusing on creating infrastructure by promoting renewable energy and smart cities.