Bangladesh expects 1 bln USD development project assistance from AIIB

Bangladesh expects to receive 1 billion U.S. dollars in loans from the Asian Infrastructure Investment Bank (AIIB) to strengthen its efforts for implementation of its various development projects, reports Xinhua.

Bangladeshi Cabinet Secretary Mohammad Shafiul Alam Monday in a press conference made the announcement in Dhaka. He said the AIIB loan issue was discussed in Luxembourg recently in a meeting between Bangladeshi Finance Minister AHM Mustafa Kamal and AIIB President Jin Liqun on the sidelines of the fourth annual meeting of the board of governors of the Beijing-based global lender. According to the official, Bangladesh sought AIIB assistance for projects in the country’s energy, connectivity and social development sectors to sustain its current economic growth momentum. In a report earlier this year, AIIB said Bangladesh will remain a priority market for the bank. The AIIB, officially launched in January 2016, is a multilateral development bank initiated by China and supported by a wide range of countries and regions, which provides financing for infrastructure improvement in Asia. Enditem