The Asian Infrastructure Investment Bank (AIIB) will provide $400 million to Bangladesh as budget support for implementing the 'Climate Resilient Inclusive Development Programme- Subprogramme1'.
In this regard, the government signed a loan agreement with the AIIB on June 27, reports BSS.
Mirana Mahrukh, Additional Secretary, Economic Relations Division (ERD) and Rajat Misra, Acting Vice President, Public Sector Clients Department, Region 1, signed the loan agreement on behalf of Bangladesh and the AIIB respectively, said a press release Monday.
This Programme has been taken by the Finance Division.
The scope of the Programme includes the following reform areas: (a) creating an enabling environment for implementing climate priorities across ministries; (b) facilitation of climate adaptation priorities; and (c) accelerating climate change mitigation actions.
The loan will be received in standard terms and conditions of AIIB.
The maturity period of the loan is 25 years including a grace period of five years. The interest rate of the loan is Reference Rate Variable Spread and Front-End Fee is 0.25%.
$400m AIIB loan for budget support: deal signed
FE Team | Published: July 01, 2024 23:07:25
$400m AIIB loan for budget support: deal signed
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