The Asian Infrastructure Investment Bank and the New Development Bank, two global multilateral development banks, have jointly signed an agreement with City Bank PLC to provide a total of $75 million in long-term financing.
Under the arrangement, AIIB will extend a $50 million loan, while NDB will provide a $25 million loan, said a press release issued on Thursday.
The financing will supply long-term funding to private sector projects, with a strong focus on renewable energy and sustainable infrastructure.
The facility aims to narrow Bangladesh鈥檚 infrastructure financing gap and support investments in energy, energy efficiency, e-mobility, and digital infrastructure.
This initiative marks AIIB鈥檚 first on-lending facility to any private bank or organisation in Bangladesh without a sovereign guarantee.
The loan to City Bank, one of the country鈥檚 leading private commercial banks, is expected to help bridge the infrastructure financing gap by mobilising private sector capital, enabling longer-term infrastructure loans, and supporting projects across key sectors.
The agreement was signed by City Bank鈥檚 managing director and chief executive officer Mashrur Arefin, AIIB director general for Financial Institutions and Funds Clients, Global Gregory Liu, NDB vice-president and chief operating officer Roman Serov and NDB director general Bin Hun.
City Bank鈥檚 deputy managing director and head of Wholesale Banking, Mesbaul Asif Siddiqui, was also present at the event.
Mashrur Arefin said, 鈥楾his long-term financing partnership with AIIB and NDB not only demonstrates their confidence in City Bank but will also empower us to accelerate investments in renewable energy and infrastructure projects.鈥�
The release added that the credit facility underscores AIIB鈥檚 and NDB鈥檚 ongoing efforts to build resilient and sustainable infrastructure ecosystems across member economies, through partnerships with City Bank, recognised as the number one ranked sustainable bank in Bangladesh.聽
