AIIB approves $60m to finance Bangladesh gas project

The Beijing-based Asian Infrastructure Investment Bank (AIIB) will provide Bangladesh loans worth $60 million to address the country's gas supply deficit, the AIIB said yesterday, reports www.moneycontrol.com.

The fund will be used to help Bangladesh's Natural Gas Infrastructure and Efficiency Improvement Project, as the lack of gas supply would "eventually impact Bangladesh's energy security and constrain the nation's economic growth", the AIIB said in a press release.
The project is co-financed by the Asian Development Bank (ADB), which approved a $167 million loan in November to boost Bangladesh's natural gas production and expand transmission infrastructure.
The AIIB said on Tuesday it had also approved loans of $125 million and $100 million for Indonesia's dam improvement project and a regional infrastructure development fund project, respectively, following prior announcements from co-financing partner World Bank to match the funding.

AIIB approves $60m to finance Bangladesh gas project

The Beijing-based Asian Infrastructure Investment Bank (AIIB) will provide Bangladesh loans worth $60 million to address the countrys gas supply deficit, the AIIB said yesterday, reports www.moneycontrol.com. The fund will be used to help Bangladeshs Natural Gas Infrastructure and Efficiency Improvement Project, as the lack of gas supply would eventually impact Bangladeshs energy security and constrain the nations economic growth, the AIIB said in a press release. The project is co-financed by the Asian Development Bank (ADB), which approved a $167 million loan in November to boost Bangladeshs natural gas production and expand transmission infrastructure. The AIIB said on Tuesday it had also approved loans of $125 million and $100 million for Indonesias dam improvement project and a regional infrastructure development fund project, respectively, following prior announcements from co-financing partner World Bank to match the funding.