BAKU, Azerbaijan, November 10. The Asian
Infrastructure Investment Bank (AIIB) and the New Development Bank
(NDB) will jointly lend $75 million to City Bank PLC (CBL), a
leading private commercial bank in Bangladesh, to support
sustainable infrastructure investments, Trend reports.
As such, AIIB will provide $50 million, while NDB’s contribution
will amount to $25 million.
The financing, structured by AIIB, aims to address critical
infrastructure development challenges and catalyze private-sector
investment in renewable energy, energy efficiency, e-mobility, and
digital infrastructure. The package offers mid- to long-term
funding, an essential tool for large-scale and resilient
infrastructure projects, helping bridge Bangladesh’s infrastructure
financing gap.
This marks the first on-lending facility by AIIB and NDB to a
private bank in Bangladesh, strengthening the private sector’s
ability to finance sustainable infrastructure and mobilize
longer-term private capital.
Gregory Liu, AIIB Director General, said, “Our financing expands
support for renewable energy and sustainable infrastructure,
exemplifying AIIB’s commitment to strategic partnerships with
leading financial institutions, mobilizing co-financiers such as
NDB, and catalyzing private sector capital in Bangladesh.”
Roman Serov, NDB Vice President, added, “This initiative
reflects our commitment to supporting members in achieving
development goals through innovative partnerships. Together, we aim
to foster green, resilient growth and catalyze private sector
participation in Bangladesh.”
City Bank CEO Mashrur Arefin highlighted the significance of the
partnership: “This long-term financing empowers us to accelerate
investments in renewable infrastructure, demonstrating the
confidence of global development partners in Bangladesh’s private
sector.”
AIIB also facilitated a $500,000 grant from the Multilateral
Cooperation Center for Development Finance to strengthen CBL’s
environmental and social management systems, promoting
international best practices in infrastructure financing.
