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Finance minister seeks AIIB support for energy sector

FE Report | Published: July 13, 2019 21:33:48


-Reuters file photo

China-led Asian Infrastructure Investment Bank (AIIB) on Friday assured Bangladesh of providing all-out support to the country's development.

The assurance came when finance minister AHM Mustafa Kamal met president of the Asian lender Jin Liqun on the sidelines of the bank's 4th annual meeting in Luxemburg, officials said.

The finance minister was attending the two-day meeting of the board of governors of the bank, which ends today (Saturday).

During the meeting, the finance minister has sought financial support for energy, connectivity and social sector development, especially for the education sector to ensure a sustainable double-digit economic growth, the ministry officials said.

Meanwhile, AIIB President Mr Liqun hailed Bangladesh's success in development and economy.

He expressed his interest to visit Bangladesh within the shortest possible time to see firsthand the country's success.

On Friday morning, the board of governors' meeting started projecting Bangladesh's success story of a rural electrification project, titled distribution system upgrade and expansion. The AIIB is providing US$165 million for the project.

On Thursday, the AIIB Board approved $200 million for Bangladesh's "Municipal Water Supply and Sanitation Project."

The project's total external financing will require $300 million, of which AIIB will provide $200 million and the remaining $100 million will come from the World Bank.

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