The Asian Infrastructure Investment Bank (AIIB), led by China, has pledged to allocate $4.5 billion to Bangladesh over the next five years, as announced by the finance ministry in a press release.

These funds will be utilized for projects related to climate issues and other sectors within the country.

A delegation from Bangladesh shared this information following their participation in the AIIB’s annual general meeting in Egypt. 

During the meeting, Bangladesh also appealed to the AIIB to consider easing the terms and conditions associated with the loans it provides.

AIIB has already extended loans totaling $3.27 billion for 18 projects in Bangladesh.