AIIB approves $250m for Bangladesh to fight against COVID-19

Bangladesh Sangbad Sangstha . Dhaka | Published: 21:21, May 21,2020 | Updated: 22:02, May 21,2020


The Asian Infrastructure Investment Bank (AIIB) has approved $250 million for extending cooperation to Bangladesh government’s utmost efforts for combating Covid-19.

‘AIIB board of directors today approved the proposal for $250 million fund for Bangladesh to ensure health and safety of its citizens during the crisis situation,’ AIIB vice president, investment operations, DJ Pandian told BSS in an online interview on Wednesday.

He said that AIIB was providing the support to mitigate the social and economic impact of the COVID-19.

‘Specifically, the programme will help the government to expand and strengthen its social safety net for the vulnerable groups as well as to support the affected industries including the export-oriented ones and small and medium-sized enterprises (SMEs),’ he added.

The AIIB vice president said that AIIB was planning for extending cooperation in more infrastructural projects in Bangladesh in a move to continue its contribution to the country’s development.

‘AIIB is very optimistic about Bangladesh as its people are very active. Bangladesh has achieved a remarkable progress in every sector in last one decade,’ he added.

Pandian said that the multi-donor bank was thinking of funding in more projects, including water supply and upgrading highways to four-lane.

The AIIB has investments in eight top priority development projects with a total $1.068 billion funding commitment in Bangladesh.

More about:

Want stories like this in your inbox?

Sign up to exclusive daily email