Beijing, February 26, 2018
AIIB Invests to Help Bangladesh Address Power Shortages
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a loan of up to USD60 million for a project that will increase power generation capacity in Bangladesh and help the country respond to power shortages.
The approved debt financing will support the development of Bangladesh Bhola IPP, a greenfield 220-megawatt combined cycle power plant in Bhola island in the Barisal district of Bangladesh. Once complete, the project will increase power generation by around 1,300 gigawatt hours annually.
"Bangladesh’s acute power shortages are impacting its economic growth and its effort to reduce poverty,” said AIIB Vice President and Chief Investment Officer, D. J. Pandian. “This investment will help Bangladesh increase its power supply to support industries that are vital to growth, and will help reduce the number of individuals who currently live without electricity."
Bangladesh Bhola IPP is one of three energy projects in Bangladesh that have received funding from AIIB. All three projects are aligned with the Government of Bangladesh’s target to achieve affordable electricity for all by 2021. This approach will enhance distribution capacity, increase the number of rural and urban electricity consumers, improve efficiency in gas production, expand gas transmission pipeline capacity and increase power generation capabilities in Bangladesh.
"We’re investing in this project because it will be one of the most efficient power plants delivering low-cost power in Bangladesh," said AIIB Director General, Dong ik Lee. "This investment will also help mobilize private capital and provide critical long-term financing that is not readily available in Bangladesh for vital infrastructure projects."
The Bangladesh Bhola IPP project marks the first project AIIB has financed alongside the Islamic Development Bank and Infrastructure Development Company Limited. The project will be developed by Shapoorji Pallonji Infrastructure Capital Company Private Limited through Nutan Bidyut (Bangladesh) Limited, a special-purpose vehicle incorporated in Bangladesh for the sole purpose of developing the project.
Additional information and the project’s Environmental and Social Management Plan can be found at here.
AIIB is a multilateral development bank founded to bring countries together to address Asia’s daunting infrastructure needs. Headquartered in Beijing, AIIB began operations in January 2016 and has now grown to 84 approved members worldwide. Its mission is to improve economic and social development in Asia by investing in high-quality, financially viable and environmentally friendly infrastructure projects.
Beijing, China, September 28, 2020
AIIB Approves USD150-M Loan to Improve Digital Connectivity in Indonesia
The Asian Infrastructure Investment Bank (AIIB) is ramping up its investment in digital infrastructure among its members, with a USD150-million nonsovereign loan to Satelit Nusantara Tiga (SNT) for a multi-functional satellite that will cover 45 million people.READ MORE
Beijing, China, September 11, 2020
Waste-to-Energy Project in Maldives Gets AIIB Support
As an island state, the Maldives does not have a lot of land to waste. Eighty percent of its total land area is distributed among 1,200 coral islands, of which only 188 are inhabited, many are remote, and nearly all are physically vulnerable to rising sea levels.READ MORE
Beijing, China, September 09, 2020
AIIB and Amundi Launch Climate Change Investment Framework to Drive Asia’s Green Recovery and Transition
A new AIIB-Amundi Climate Change Investment Framework is being launched today by the Asian Infrastructure Investment Bank (AIIB) and Amundi, Europe’s largest asset manager.READ MORE