The visiting European Investment Bank (EIB) Vice-President Nicola Beer has confirmed €162 million additional financing for two ongoing water-sector projects and €650 million for two pipeline projects of railway and ICT sectors.
The confirmation came when an EIB delegation led by Nicola met Finance Adviser Salehuddin Ahmed at a hotel in Dhaka on Wednesday, according to a release from the Economic Relations Division.
The EIB high official reassured their support for the interim government and expressed their interest to double the financing portfolio of EIB in Bangladesh.
The EIB showed significant interest to invest further in environment, railway, water, green energy as well as in private sector.
The delegation arrived in Dhaka on Tuesday on a three-day visit to review existing partnership, discuss various issues and explore expanded investment cooperation with the interim government of Bangladesh.
This is the highest-level visit from EIB so far for which both sides considered as it an opportune moment given the growing interest of the EU to deepen relations with Bangladesh and the increasing engagement of EIB in development cooperation.
During the meeting, the finance adviser acknowledged the long-standing partnership with the EIB and appreciated significant support to Bangladesh for socio-economic development.
He reiterated the commitment of the interim government for a congenial environment in the country to boost investment as well as economic activities.
He said the present government is trying to recover the economy and bring the growth on track and stressed the necessity of financial support from EIB in the context of LDC graduation, the need for development in sectors of RMG, agriculture, education, skill development, renewable energy and leather, and also research and innovation and employment generation.
He appreciated the EIB’s interest in increasing support for the private sector which is crucial for the economy and sustainable development of the country.
In the meeting, ERD Secreatary Md Shahriar Kader Siddiky Finance Secretary Md Khairuzzaman Mozumder were present. Michael MLLER, Ambassador, Head of the EU Delegation to Bangladesh and high officials of the EIB were also present.
The EIB of EU, owned by 27 EU member states,and the largest multilateral financing institute of the world has been supporting Bangladesh since 2012 in critical sectors like infrastructure, transport, water and health with the financing portfolio of nearly $1 billion for the country. Currently six projects with EIB financing are being implemented in Bangladesh.
