Dhaka, April 9 — The New Development Bank, based in Shanghai, plans to increase its funding for development projects in Bangladesh to $1 billion this year, according to a statement made by a vice president on Tuesday.
Vladimir Kazbekov, who serves as a vice president at the NDB, mentioned that the bank has greenlit $320 million for the Expanded Dhaka City Water Supply Resilience project. However, this year, they aim to increase the financial support by over threefold to better address Bangladesh’s developmental requirements.
Kazbekov expressed these remarks during his meeting with Chief Advisor Professor Muhammad Yunus at the State Guest House Jamuna in Dhaka.
His press secretary, Shafiqul Alam, stated that the chief advisor commended the new multilateral lending institution for its potential to significantly enhance the country’s developmental framework.
Kazbekov mentioned that the lending institution was equally dedicated to providing substantial backing for the enhancement of infrastructure within the natural gas industry in Bangladesh.
Russia will support Bangladesh in attaining an increased position within BRICS.
Kazbekov mentioned that the NDB was keen on significantly loaning money to the nation’s private sector with the aim of bolstering their capabilities.
The lead advisor highlighted NDB funding for social infrastructure, including housing facilities designed for numerous workers within the nation’s rapidly growing economic areas.
Kazbekov mentioned that the bank has implemented multi-currency loans, providing advantages for Bangladesh.
The secretary of the Economic Relations Division, Shahriar Kader Siddiqi, suggested that the NDB should concentrate on implementing country-specific strategies for Bangladesh. This approach aims to ensure that their financial support matches the developmental goals set by Bangladesh.
The BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, along with SDGs Affairs Principal Coordinator Lamiya Morshed and ERD Secretary Shahriar Kader Siddiqi, attended the meeting.
