BD seeks $1b loan from AIIB for 7 projects

Dhaka,  Fri,  22 September 2017
Published : 03 Aug 2017, 18:27:53

BD seeks $1b loan from AIIB for 7 projects

BD seeks $1b loan from AIIB for 7 projects
Bangladesh has sought loans of one billion dollars from the Asian Infrastructure Investment Bank (AIIB) for implementing seven projects, including power distribution system upgradation.

Finance Minister AMA Muhith informed it to journalists on Thursday after a meeting with AIIB Vice President and Chief Investment Officer Dr DJ Pandian at secretariat. 

"We discussed future pipeline projects and two projects, being implemented with AIIB funding. We also submit new list of power and transportation projects," said the minister, according to a report on state owned BSS.

The two projects are: "Distribution System Upgrade and Expansion" and "Natural Gas Infrastructure Efficiency Improvement."

Muhith said the newly proposed schemes comprise three procurement projects for railway and four for power sector.

The four power projects are Upgradation of Power Distribution System in West Zone, Expansion and Strengthening Power System in Chittagong Area, Construction of a Bridge across Barisal Dumki Road and Coal Power Ganderia project.

Muhith said this is the century of Asia as the region has huge opportunities to invest in the infrastructure development.

"The United States is a developed country. But it is basically a consumer society. Investment is not available there which is available here. Savings is the habit of Asians," he added.

Mentioning Bangladesh as an important country to AIIB, Dr DJ Pandian said, Bangladesh has many potentiality as it is maintaining 6-7 per cent GDP growth for the last 10 years.

Editor : A.H.M Moazzem Hossain
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