BD seeks $1b loan to AIIB for 7 projects: Muhith

Finance Minister AMA Muhith today said Bangladesh has sought loans to the tune of $1billion to the Asian Infrastructure Investment Bank (AIIB) for implementing seven projects, including power distribution system upgradation.

“We discussed future pipeline projects and two projects, being implemented with AIIB funding. We also submit new list of power and transportation projects,” the minister told journalists after a meeting with AIIB Vice President and Chief Investment Officer Dr DJ Pandian at secretariat in the city.

The two projects are: “Distribution System Upgrade and Expansion” and “Natural Gas Infrastructure Efficiency Improvement.”

Muhith said the newly proposed schemes comprise three procurement projects for railway and four for power sector.

The four power projects are Upgradation of Power Distribution System in West Zone, Expansion and Strengthening Power System in Chittagong Area, Construction of a Bridge across Barisal Dumki Road and Coal Power Ganderia project.

Responding to a question, Muhith said this is the centaury of Asia as the region has huge opportunities to invest in the infrastructure development.

“The United States is a developed country. But it is basically a consumer society. Investment is not available there which is available here. Savings is the habit of Asians,” he added.

Mentioning Bangladesh as an important country to AIIB, Dr DJ Pandian said, Bangladesh has many potentiality as it is maintaining 6-7 percent GDP growth for the last 10 years.

Source: BSS