Asian Infrastructure Investment Bank (AIIB) and New Development Bank (NDB) have signed an agreement to provide $75 million long-term financing to City Bank PLC.
AIIB will extend $50 million while NDB will provide $25 million, according to a press release issued on Thursday. The facility will fund renewable energy and sustainable infrastructure projects, including energy efficiency, e-mobility, and digital infrastructure.
The deal was signed by City Bank managing director and CEO Mashrur Arefin, AIIB director general for financial institutions Gregory Liu, NDB vice president and COO Roman Serov, and NDB director general Bin Hun. City Bank deputy managing director Mesbaul Asif Siddiqui was also present.
This marks AIIB’s first on-lending facility to a private bank in Bangladesh without sovereign guarantee. The credit line is expected to help close the country’s infrastructure financing gap by mobilising private capital and supporting long-term loans in priority sectors.
“This 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, which are the critical areas for sustainable development goals,” said Mashrur Arefin.
The initiative underscores AIIB and NDB’s focus on building resilient and sustainable infrastructure across member economies through partnerships with Bangladesh’s top-ranked sustainable bank.
