AIIB for task force to expedite development projects

The Asian Infrastructure Investment Bank (AIIB) has underscored the need for forming a high-level task force to expedite the ongoing development projects in Bangladesh.

“The bank is working on providing large loans and budget support for the development of Bangladesh,” said Dr Urjit Patel, the AIIB vice president for Investment Operations of Region 1 (South Asia, the Pacific Islands and South East Asia), who is visiting Dhaka.

He made the remarks during a meeting with State Minister for Planning Shamsul Alam at the latter’s Planning Commission office on Wednesday.

AIIB’s Senior Investment Operations Specialist Farhad Ahmed and Investment Operations Specialist Rajib Ahmed Chowdhury also attended the meeting.

After the meeting, Shamsul said, “Patel praised the economic reform process of Bangladesh. According to him, Bangladesh can afford to avoid the global recession.”

“Fears of a slowdown in growth cannot be ruled out. Patel said Bangladesh and India are economically strong in South Asia. AIIB is ready to help Bangladesh in any situation,” he said.

AIIB wants to increase the disbursement of their promised loans as they can lend more, he added.

If the implementation of the projects is fast, no additional cost will be needed. They will always help us by providing loans, said the state minister. “We have highlighted our areas of importance. They have also agreed to finance those.”