The Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) have signed a $75 million long-term financing agreement with City Bank PLC to support private sector projects in renewable energy and sustainable infrastructure.

Under the deal, the AIIB will provide $50 million while the NDB will extend $25 million, City Bank said in a press release. The arrangement marks AIIB’s first on-lending facility to a private bank in Bangladesh without a sovereign guarantee.

The funds will be directed towards projects in energy, energy efficiency, e-mobility, and digital infrastructure, aiming to reduce Bangladesh’s infrastructure financing gap.

The agreement was signed in Beijing by Mashrur Arefin, managing director and CEO of City Bank, and Gregory Liu, director general at AIIB. Later, Roman Serov, vice-president and chief operating officer of NDB, and Bin Hun, director general, formalised the financing arrangement.

“This long-term financing partnership with the AIIB and the NDB not only demonstrates their confidence in City Bank but also empowers us to accelerate investments in renewable energy and infrastructure projects, critical areas for the country’s sustainable development goals,” Arefin said.

According to City Bank, the loan will help mobilise private sector capital, extend the tenor of infrastructure financing, and support projects across key sectors. The facility also reflects the lenders’ commitment to fostering resilient and sustainable infrastructure in their member economies.

Senior officials, including Mesbaul Asif Siddiqui, deputy managing director and head of wholesale banking at City Bank, were present during the signing.