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AIIB Considers Financing Four More Bangladesh Infrastructure Projects

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by September 16, 2019 General

DHAKA The Asian Infrastructure Investment Bank (AIIB) is considering financing four more projects for contributing further to Bangladesh’s infrastructure development, a top AIIB official said.

The projects are Dhaka and Western Zone Transmission Grid Expansion Project, Dhaka Sanitation Improvement Project, Mymensingh Kewatkhali Bridge Project and Sylhet to Tamabil Road Upgrading Project.

The multi-donor bank has already approved five projects for Bangladesh amounting to 505 million U.S. dollars, for developing infrastructures.

AIIB Vice President, Joachim von Amsberg said, AIIB is open to considering more infrastructure projects from Bangladesh that are aligned with their mandate, thematic priorities and sector strategies.

AIIB is very positive on Bangladesh. It is an economy that looks set to sustain moderately high growth rates, providing the policy efforts continue. Secondly, there will be opportunities in infrastructure and productive sectors for AIIB to work with and contribute towards Bangladesh’s development, he said.

The AIIB vice president also informed that AIIB has approved around 3.0-million-U.S. dollar grants, under the AIIB Special Fund (SF) for Project Preparation to prepare two transport sector projects in Bangladesh.

He said, special fund for project preparation is important in the sense that many of AIIB members, especially low-income members, face significant capacity lags in preparing bankable infrastructure projects.

Source: NAM NEWS NETWORK

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