Dhaka, June 24 (V7N) — The Asian Infrastructure Investment Bank (AIIB) has approved a $400 million loan to Bangladesh as budgetary support under the Climate Resilient Inclusive Development Program. The agreement was formally signed on Monday between the Government of Bangladesh and the AIIB.

On behalf of the Government of Bangladesh, Additional Secretary of the Economic Relations Division (ERD), Mirana Mahrukh, signed the agreement, while Rajat Mishra, Acting Chief Investment Officer, signed on behalf of the AIIB.

The primary objective of the loan is to help lay a strong foundation for climate resilience in Bangladesh. The program is designed to support climate policy reforms that promote both climate change adaptation and mitigation efforts. By aligning with sustainability goals, the initiative aims to foster inclusive, resilient, and sustainable growth in the country.

According to the agreement, the loan is repayable over 35 years, including a five-year grace period. The interest rate for the loan is a one-time fixed charge of 0.25%.

This marks another significant step in Bangladesh’s ongoing efforts to secure international financing for addressing climate vulnerabilities, building green infrastructure, and achieving long-term sustainable development.

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