Dhaka, Oct. 2 -- Asian Infrastructure Investment Bank (AIIB) and New Development Bank (NDB), two global multilateral development banks, have jointly signed an agreement with City Bank PLC to provide a total USD75 million long-term financing.

Under the arrangement, AIIB will extend a USD 50 million and a USD 25 million loan by NDB, according to a press release.

This financing will provide long-term funding to private sector projects, with a strong focus on renewable energy and sustainable infrastructure.

The facility aims to narrow Bangladesh's infrastructure financing gap and support investments in energy, energy efficiency, e-mobility, and digital infrastructure.

The agreement was signed by Mashrur Arefin, Managing Director & CEO of ...