India has emerged as the biggest beneficiary of the Chinese-led Asian Infrastructure Investment Bank , soaking up a quarter of its investment commitments to date, despite continuing tension between New Delhi and Beijing.
In its first two years, the AIIB — conceived by China as an alternative to the World Bank — approved $4.3bn worth of funding for infrastructure projects around Asia, more than $1bn worth of which is due to go to schemes in India.
Bank officials say the willingness to lend to India and the willingness of New Delhi to approve the funds is proof the AIIB is not a puppet of Beijing.
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