AIIB, NDB to JOINTLY LEND $75M TO CITY BANK

Asian Infrastructure Investment Bank (AIIB) and New Development Bank (NDB), two global multilateral development banks, have jointly signed an agreement with City Bank to provide a total of $75 million in long term financing. Under the arrangement, AIIB will give $50 million and NDB $25 million. The agreement was signed by Mashrur Arefin, managing director & CEO of City Bank; Gregory Liu, director general, Financial Institutions and Funds Clients, Global, at AIIB; and Roman Serov, vice president & COO and Bin Hun, director general at NDB.