Dhaka, April 8 -- BIDA and BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun on Tuesday said the Brics-led New Development Bank (NDB) is set to provide $1 billion in funding support to Bangladesh over the next year.
He made this announcement while speaking to reporters on the second day of the Investment Summit, saying "The New Development Bank (NDB) had already invested about $300 million."
NDB, formerly referred to as the Brics Development Bank, is a multilateral development bank established by the Brics states (Brazil, Russia, India, China, and South Africa).
According to the Agreement on the NDB, "The Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments."...