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Friday, November 15, 2024

Home Business AIIB to lend Bangladesh $4.5b in 5 years

AIIB to lend Bangladesh $4.5b in 5 years

by News desk
September 28, 2023
in Business

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The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) will provide 4.5 billion U.S. dollars in loan to Bangladesh mainly on climate-related projects in the next five years.

The assurance came at the eighth annual meeting of the AIIB that took place on Sept. 25 and 26 at Sharm El-Sheikh in Egypt, Bangladesh’s Ministry of Finance said in a press release on Tuesday. The loan will also help finance various infrastructure projects in the country, said the ministry. The AIIB has so far provided a total of 3.27 billion dollars in loans for 18 projects in the South Asian country.—APP