AIIB extends $200m credit facility to Idcol

Asian Infrastructure Investment Bank (AIIB) has extended a $200 million long-term credit facility to the Infrastructure Development Company Ltd (Idcol) of Bangladesh for financing infrastructure projects in the country.

The Economic Relations Division (ERD) of the finance ministry and the multilateral development bank signed a loan agreement to this effect in Dhaka last month, a press release said.

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The credit facility will be utilised to finance priority private sector infrastructure projects in sectors like energy, transport, ICT, energy efficiency, renewable energy, social infrastructure and so on.

Idcol will extend the financing in both the US dollar and the Bangladeshi taka to eligible projects. 

Idcol, a government-owned non-banking financial institution, is the country's leading financier in the private sector infrastructure, renewable energy and energy efficiency sectors.

The state-owned organisation plays a significant role in catalysing private sector investment across these segments, according to the statement.

Fatima Yasmin, secretary of the ERD and chairman of Idcol, Md Shahriar Kader Siddiky, chief (Asia wing) of the ERD, and Alamgir Morshed, executive director of Idcol, were present.