Prime Minister Narendra Modi said , Asian Infrastructure Investment Bank (AIIB) should focus on development of infrastructure like rail, road and ports with a view to promoting connectivity and growth in the Asian region. Mr. Modi had a meeting with President-designate of AIIB, Jin Liqun yesterday in New Delhi, Mr. Modi said, infrastructure development will enhance the economic development and lift millions of people out of the life of impoverishment. Assuring India's full support to the newly-created financial institution, the Prime Minister hoped that the multilateral institution, along with the BRICS New Development Bank, will play an instrumental role in development of infrastructure in the Asia region. The Beijing-based multi-lateral lender is scheduled to commence operations later in this month. The 100-billion USD development bank was formally set up in Beijing on 25 December.