AIIB to provide budget support, assist Bangladesh in energy, climate projects: Finance minister

Finance Minister Amir Khosru Mahmud Chowdhury on Saturday said that Bangladesh would work with the Asian Infrastructure Investment Bank (AIIB) to address the ongoing energy crisis and support future development priorities.

He revealed this while talking to reporters outside the Prime Minister’s Office (PMO) in the city’s Tejgaon area following a meeting held between Prime Minister Tarique Rahman and an AIIB delegation there.

The finance minister said discussions were held on how Bangladesh will collaborate with AIIB, particularly in the context of the current global and domestic energy crisis, which is creating pressure not only on Bangladesh but on economies worldwide.

To tackle this pressure, Chowdhury said, talks were also held on budget support, and AIIB has agreed to provide budget support to Bangladesh.

Secondly, he said, AIIB will support Bangladesh in climate-related projects, which include projects linked to solar power, electric vehicles and other climate-focused initiatives.

Noting that energy issues are also connected to these initiatives, the finance minister said Bangladesh decided that if 20 to 30 per cent of its electricity can be generated from solar power, the country’s energy crisis will be significantly reduced.

He said AIIB has agreed to support Bangladesh in achieving this goal as well.

In addition, Chowdhury said AIIB will also provide assistance in various infrastructure projects in the country.