Dhaka: The BRICS-established New Development Bank (NDB) is planning to increase its lending to Bangladesh, with an aim to provide $1 billion for development projects within the year. This announcement was made by Vladimir Kazbekov, a Vice-President and Chief Operating Officer of the NDB, during a meeting in Dhaka.
According to Bangladesh Sangbad Sangstha, Kazbekov stated that the bank has already approved $320 million for the Expanded Dhaka City Water Supply Resilient project. However, recognizing Bangladesh's significant development needs, the NDB is looking to more than triple its funding efforts this year.
Kazbekov shared these developments during a meeting with Chief Adviser Professor Muhammad Yunus at the State Guest House Jamuna. The Chief Adviser acknowledged the positive role of the NDB and expressed optimism about its potential contributions to the country's infrastructure development.
Kazbekov emphasized the bank's commitment to supporting infrastructure projects in Bangladesh's gas sector. Additionally, the NDB is exploring opportunities to lend substantial amounts to the private sector to enhance its capacity.
Chief Adviser Yunus highlighted the importance of NDB investing in social infrastructure, particularly in housing facilities for workers in the country's economic zones. Kazbekov reassured that the bank's introduction of multi-currency lending would bring additional benefits to Bangladesh.
Shahriar Kader Siddiqi, Secretary to the Economic Relations Division, suggested that the NDB should develop country strategy programs for Bangladesh to ensure its funding aligns with the nation's development priorities.
The meeting was attended by BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, SDG Coordinator Lamiya Morshed, and ERD Secretary Shahriar Kader Siddiqi.