AIIB likely to raise climate financing to Bangladesh
Published : Wednesday, 6 March, 2024 at 12:00 AM Count : 475
The Asian Infrastructure Investment Bank (AIIB) is likely to raise its financing to Bangladesh in the coming years while the country is likely to be the first nation to receive climate finance from the multilateral development bank.
"We don have any limits on our lending to Bangladesh right now. We can definitely take it up substantially and that was also my request to the Finance Minister," said AIIB acting vice-president Rajat Misra while replying to a query from a reporter after he made a courtesy call on Finance Minister Abul Hassan Mahmood Ali at his Secretariat office in Dhaka on Tuesday.
Noting that Bangladesh is the fifth largest borrower of AIIB with approvals around US$3.5 billion, Misra said: "We
e primarily an infrastructure finance bank. So, we also want to be a partner of Bangladeshs development in infrastructure.
Because, the country is developing in infrastructure at a rapid pace with a new metro line commissioned. So, we definitely would like to do more."
Secondly, he said they are also working on some critical areas like climate finance. "So, we
e putting together a policy on climate finance. And again with Bangladesh, we
e discussing an advanced stage on one project and that would be the first project to be approved by the AIIB on climate finance. So, we
e having a very valuable partnership with Bangladesh in both ways."
Finance Division Secretary Dr M Khairuzzaman Mozumder said the AIIB wants to be involved more in the infrastructure sector of Bangladesh.
Besides, he informed that the government also sought support from the AIIB in the budget support programme.
"The AIIB vice-president has informed us that support will come in climate finance and Bangladesh would be the first country to receive climate finance from the AIIB." the Finance Secretary added. —BSS
