City Bank PLC has secured $75 million in long-term financing from AIIB and NDB to fund renewable energy and sustainable infrastructure projects in Bangladesh. This marks AIIB’s first private on-lending facility in the country without a sovereign guarantee.
The Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB), two leading multilateral development banks, have committed $75 million in long-term financing to City Bank PLC. The funds will support private sector projects in Bangladesh with a focus on renewable energy and sustainable infrastructure.
Under the agreement, AIIB will provide $50 million, while NDB will extend $25 million. Notably, this marks AIIB’s first on-lending facility in Bangladesh to a private bank without a sovereign guarantee.
The financing aims to narrow Bangladesh’s infrastructure funding gap and encourage investments in energy, energy efficiency, e-mobility, and digital infrastructure.
The agreement was signed in Beijing by City Bank’s Managing Director and CEO, Mashrur Arefin, and AIIB’s Director General for Financial Institutions and Fund Clients, Gregory Liu. Later, NDB Vice-President and COO, Roman Serov, and Director General Bin Hun also signed the facility.
Commenting on the partnership, Arefin said the deal demonstrates AIIB and NDB’s confidence in City Bank while enabling greater investment in renewable energy and infrastructure, which are vital for Bangladesh’s sustainable development goals.
City Bank Deputy Managing Director Mesbaul Asif Siddiqui and senior officials from all three institutions were also present at the signing ceremony.