Bangladesh will receive $250 million from the Asian Infrastructure Investment Bank (AIIB) to implement a government programme for the country’s sustainable economic recovery from Covid-19 fallouts. ERD Secretary Fatima Yasmin and AIIB’s vice president, investment operations (Region-1) DJ Pandian signed the loan agreement virtually on behalf of their respective sides. The finance division has taken the programme to reform policies for the recovery of Bangladesh economy from the pandemic shocks. Read Next 2 weeks crucial to ensure TRIPS waiver for pharma beyond LDC graduation The Asian Development Bank (ADB). AIIB, the lead financier of the programme, is contributing $250 million as a co-financier. Under the programme, steps will be taken to reduce and rationalize expenditure by reforming and strengthening the public finance management (PFM) system and expanding financial resources, said Fatima. Also read: World Bank prediction on Bangladesh economy inconsistent: Finance Minister The programme also aims to create financing opportunities for industries and entrepreneurs such as small, medium and cottage industries whose sources of funding are insufficient, she said. The loan will be received in AIIB’s standard term and conditions. The repayment period of the loan is 20 years, including a 3-year grace period.

Asian Infrastructure Investment Bank (AIIB) has approved $170 million to improve Bangladesh’s sanitation infrastructure, according to a press release.

Asian Infrastructure Investment Bank (AIIB) has approved $404 million loan to improve Bangladesh’s intercity travel and cross-border connectivity.

The Asian Infrastructure Investment Bank (AIIB) has approved a $200 million loan for Bangladesh to increase access to electricity and improve service efficiency in the capital of Dhaka and the country’s western zone.