The New Development Bank (NDB), founded by BRICS nations, intends to raise its funding for development projects in Bangladesh to $1 billion this year, a vice president of the Shanghai-headquartered lender said in Dhaka on Tuesday.
NDB Vice-President and Chief Operating Officer (COO) Vladimir Kazbekov said the bank has already approved $320 million for the implementation of the Expanded Dhaka Water Supply Resilient Project (EDWSRP).
However, this year, it aims to more than triple that amount to further support Bangladesh’s development.
Kazbekov made the remarks during a meeting with Chief Adviser Prof Muhammad Yunus at the State Guest House Jamuna on Tuesday afternoon.
The chief adviser appreciated the role of the new multilateral lender, saying it could make a significant contribution to upgrading Bangladesh’s development infrastructure.
Kazbekov said the NDB is also committed to providing major support for infrastructure development in the country’s gas sector.
He added that the bank is interested in extending substantial loans to Bangladesh's private sector to enhance its capacity.
The chief adviser stressed the need for NDB financing in social infrastructure, particularly housing facilities for thousands of workers in the country’s rapidly expanding economic zones.
Kazbekov noted that the bank has introduced multi-currency lending, which would benefit Bangladesh.
Shahriar Kader Siddiky, secretary to the Economic Relations Division (ERD), said the NDB should focus on introducing country strategy programmes in Bangladesh to align its funding with the nation’s development priorities.
Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun, and Principal Coordinator for Sustainable Development Goals (SDGs) Lamiya Morshed were also present at the meeting.
Bd-pratidin English/FNC
