AIIB keen to provide more support in Bangladesh's renewable energy

| Updated: January 25, 2023 14:09:18

AIIB keen to provide more support in Bangladesh's renewable energy

State Minister for Planning Dr Shamsul Alam has said the Asian Infrastructure Investment Bank (AIIB) is eager to provide more support in helping strengthen the renewable energy sector and other green growth projects of Bangladesh.

"They (AIIB) are looking for more bankable projects in these areas," Dr Alam said while talking to media after Urjit S. Patel, Vice-President of the AIIB and his team, had an hour-long meeting with him at his office on Wednesday on the issue of providing financial supports to Bangladesh.

He informed that the AIIB has so far provided support to 17 projects in Bangladesh and also promised to provide $4.5 billion in support to Bangladesh in the coming days, reports BSS.

The State Minister said the AIIB has already provided a significant amount of budget support to Bangladesh.

"AIIB appreciated the reform efforts of Bangladesh in strengthening its financial sector," he added.

Urjit Patel opinioned that Bangladesh would be able to avoid any recession that may affect major economies because of buoyant export and remittances receipt and having comfortable savings GDP ratio.

He said that they might give more thought to reducing project processing and approval time.

Urjit Patel was also the former Governor of the Reserve Bank of India.

Share if you like