The Asian Development Bank (ADB) has agreed to provide a loan of USD 100 million to Bangladesh to help the country’s infrastructure development.
The government and the Manila-based lending agency signed an agreement for the ‘Strengthening Bangladesh Infrastructure Finance Fund Limited Project-Additional Financing’ in Dhaka on Thursday.
ADB approves $600 million loan for Bangladesh
The signing ceremony marked a key milestone in advancing infrastructure development through public-private partnerships (PPP).
Md. Shahriar Quader Siddiqui, Secretary of the Economic Relations Division, signed the agreement with ADB Country Director Hoe Yun Jeong in Dhaka, during a ceremony attended by senior officials from both organizations.
The project, which will run from 2024 to 2029, is aimed at strengthening the Bangladesh Infrastructure Finance Fund Limited (BIFFL) to boost infrastructure investments through Public-Private Partnerships.
ADB approves $100 million more loan for infrastructure development in Bangladesh
The Finance Division of the Ministry of Finance sponsors the project, while BIFFL will serve as the implementing agency.
A separate project agreement between ADB and BIFFL has also been signed to support the initiative.