, Oct. 2 -- City Bank PLC, a private sector bank in Bangladesh, has secured a $75 million loan facility from two international development banks to boost private sector investment.

The loan deal was signed among the City Bank, the Asian Infrastructure Investment Bank (AIIB), and the New Development Bank (NDB) to boost investment and sustainable infrastructure development in Bangladesh.

The total financing package includes $50 million from the AIIB and $25 million from the NDB. The funds will be allocated for investment in Bangladesh's private sector and key development areas, including power, energy efficiency, e-mobility, and digital infrastructure.

The bank officially announced the financing package on Thursday (October 2), confirmin...