The Asian Development Bank (ADB) has approved a $100 million loan to Bangladesh to bolster infrastructure development through public-private partnerships (PPP).

The ‘Strengthening Bangladesh Infrastructure Finance Fund Limited Project-Additional Financing’ agreement was signed in Dhaka on Thursday.

Md. Shahriar Quader Siddiqui, Secretary of the Economic Relations Division, signed on behalf of the government, while ADB Country Director Hoe Yun Jeong represented the lending agency. Senior officials from both parties were present at the ceremony.

The project, which will run from 2024 to 2029, aims to enhance the capacity of the Bangladesh Infrastructure Finance Fund Limited (BIFFL) to facilitate infrastructure investments through PPP models. Sponsored by the Finance Division of the Ministry of Finance, BIFFL will act as the implementing agency for the initiative.

A separate agreement between ADB and BIFFL was also signed to support further the project, which is seen as a significant step toward sustainable infrastructure development in the country.