AIIB approves $60mn loan for Bangladesh power project | The Daily Star
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AIIB approves $60mn loan for Bangladesh power project

Star Online Report
Mon Feb 26, 2018 08:02 PM Last update on: Mon Feb 26, 2018 08:39 PM

The Beijing-based Asian Infrastructure Investment Bank (AIIB) has approved $60 million loan for a power project in Bangladesh.

Laurel Ostfield, head of communications and development of AIIB, made the disclosure at a media briefing in Dhaka today.

With this new loan, the newly-established multilateral development bank’s exposure in Bangladesh reached $285 million or 6.6 percent of its total portfolio.

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“So far AIIB has financed three projects, all in the energy sector,” Ostfield told journalists at the briefing at Lakeshore Hotel.

The newly-approved loan of $60 million will help Bangladesh develop a 220-megawatt combined cycle power plant in Bhola at a total cost of $271 million. Islamic Development Bank and local Infrastructure Development Company will provide the remaining cost of the project.

Related topic:
Asian Infrastructure Investment Bank (AIIB)AIIB financing power project in Bangladesh
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