Union Finance Minister Arun Jaitley has said that India is preparing a basket of projects worth two to three billion US dollars for funding by the Asian Infrastructure Investment Bank (AIIB). Addressing the Board of Governors Session of the Annual General Meeting at the AIIB headquarters in Beijing yesterday, Mr Jaitley said India has a huge unmet demand for investment in infrastructure and its is preparing basket of projects worth two to three billion US dollars for AIIB funding in the areas of urban development (including smart cities), energy, urban transport, railways, inland waterways and water supply. An Indian Embassy statement providing details of Mr Jaitley's address said that the Finance Minister also offered India's support in establishment of a regional office of AIIB in New Delhi to effectively cater to potentially large portfolio and speed up the process of project development, monitoring and implementation. He said the AIIB presents a much-needed additional financing window dedicated to infrastructure projects. He also noted that AIIB can met the financing gap that may be beyond the capacity of the individual countries and the existing Multilateral Development Banks.<br/><br/>AIIB was officially established last year with an authorised capital of 100 billion US dollars. India and 56 other countries joined the Bank as founding members. China is the largest shareholder with 26.06 per cent voting shares and India the second-largest shareholder with 7.5 per cent.