AIIB To Provide $3.27 Billion Loans To Bangladesh

The Ministry of Finance announced on Tuesday that the Asian Infrastructure Investment Bank (AIIB) will allocate $4.5 billion to Bangladesh over the next five years.

This funding is intended to support initiatives aimed at addressing challenges posed by climate change and will serve as a crucial link between public and private sector investments, according to a press release issued following the eighth annual meeting of the bank in Egypt held on Monday and Tuesday.

A delegation from Bangladesh, led by Sharifa Khan, Secretary of the Economic Relations Division (ERD), attended the meeting and called upon the AIIB's board of directors to increase funding for the construction of climate-resilient infrastructure.

This year's annual meeting centered around the theme of "Sustainable Growth in a Challenging World." During the meeting, Ms. Khan emphasized that "developing countries like Bangladesh are highly vulnerable to the severe impacts of climate change-induced disasters."

To date, the AIIB has provided loans totaling $3.27 billion to Bangladesh for 18 different projects, starting with an initial loan of $165 million granted for a project in 2016.