Bangladesh is advancing fast towards its possible joining in the proposed Asian Infrastructure Bank (AIB) in response to China's invitation amid a major move on the global economic front.
Following the invitation extended in May, the government has already expressed its desire to join the AIB.
As part of its move, Finance Minister AMA Muhith is expected to sit with the ministry's top officials today (Tuesday) at his secretariat office to discuss the matter in detail.
Officials are expected to present some critical aspects in relation to joining the bank, which is coalescing with the newly launched BRICS Bank.
Sources told the FE Sunday that the government is likely to sign a memorandum of understating (MoU) with China on the formation of the bank sometime in October next. Earlier, the Finance Division had received copy of the MoU sent from China.
The Finance Division has also sought detailed opinion on the issue from the central bank of Bangladesh. It sent a letter to the Bangladesh Bank on July 22.
The BB is yet to send its report.
"We're waiting for opinions from the central bank. We expect a detailed opinion from Bangladesh Bank shortly," said a source.
In the meantime, a high official from the Economic Relations Division (ERD) will visit Beijing to join a meeting on multilateral information on the AIB in the Chinese capital.
In June last, two senior officials from the finance division also participated in a two-day discussion on infrastructure connectivity in Asia: The financing challenges.
China moves for the formation of AIB as it sees infrastructure as one of the key prerequisites for Asian economic integration to derive optimal economic gains.
China formally invited Bangladesh in May last to join its initiative to establish the AIB as a founder-member.
The Chinese government also wrote details about the key features of the AIB and sent the proposed MoU to Bangladesh for consideration.
The bank, with US$100 billion as its start-up capital, is scheduled to make its debut by the end of this year with the aim of financing key infrastructure projects in Asian countries.
Chinese President Xi Jinping and Premier Li Keqiang, during their recent visits to Southeast Asian countries, formally announced their initiative of establishing the AIB in order to support infrastructure construction and promote regional development and cooperation among the Asian nations.
China announced that it alone will contribute $50 billion for the formation of the bank and the other member-countries will provide the rest.
© 2026 - All Rights with The Financial Express
