BEIJING, March 28 The Beijing-based Asian
Infrastructure Investment Bank (AIIB) will provide Bangladesh
loans worth $60 million to address the country's gas supply
deficit, the AIIB said on Tuesday.
The fund will be used to help Bangladesh's Natural Gas
Infrastructure and Efficiency Improvement Project, as the lack
of gas supply would "eventually impact Bangladesh's energy
security and constrain the nation's economic growth", the AIIB
said in a press release.
The project is co-financed by the Asian Development Bank
(ADB), which approved a $167 million loan in November to boost
Bangladesh's natural gas production and expand transmission
The AIIB said on Tuesday it had also approved loans of $125
million and $100 million for Indonesia's dam improvement project
and a regional infrastructure development fund project,
respectively, following prior announcements from co-financing
partner World Bank to match the funding.
"Currently available financing instruments in Indonesia are
limited and ill-fit for the nature and scale of the required
urban and local municipal infrastructure investment," the AIIB
(Reporting by Yawen Chen and Nicholas Heath; Editing by Simon