CURRENT AFFAIRS

Detailed explanation-1: -The Asian Infrastructure Investment Bank (AIIB) has committed USD150 million to invest in the development of data centers that mostly serve emerging Asia through the Keppel Data Centre Fund II (KDCF II), a closed-end private equity vehicle managed by Alpha Investment Partners Limited (Alpha).

Detailed explanation-2: -MANILA, PHILIPPINES (8 December 2022)-The Asian Development Bank (ADB) today approved a $780 million multitranche financing facility (MFF) to build new lines and improve the connectivity of the metro rail system at Chennai, the capital of India’s Tamil Nadu state, with the city’s existing bus and feeder services.

Detailed explanation-3: -Iraq becomes AIIB’s 51st regional member, bringing the Bank’s approved membership to 105 in total.

Detailed explanation-4: -Currently, AIIB operations one Project Preparation Special Fund facility, with contributions from China, Hong Kong-China, Korea and the United Kingdom. Monies are transferred to AIIB as grants and do not represent contributions from all members.