EIB plans to double support for Bangladesh

Dhaka [Bangladesh], January 10: The European Investment Bank (EIB) plans to double its financial support for Bangladesh to €2 billion (approximately $2.06 billion), mainly through loans for environmentally sustainable infrastructure projects, a senior bank official said on Thursday.
"We have so far committed nearly €1 billion ($1 billion) for Bangladesh, and probably could double that amount to €2 billion, and probably by this year, in 2025," Nicola Beer, the vice president of the EIB, said in Dhaka on Thursday, wrapping up her three-day visit to Bangladesh. During her trip, Beer met several Bangladeshi officials, including Nobel laureate and interim administration head Muhammad Yunus, as well as business leaders.
The EIB, the European Union's lending arm, has already signed agreements worth €982 million for projects in water supply, railway construction, rail fleet modernization, public health initiatives and renewable energy. Discussions between Beer and Bangladeshi officials included a project to construct a new railway line connecting the port city of Chattogram with Akhaura, near Bangladesh's eastern border with India's Tripura state.
"The ongoing projects are primarily focused on the water sector, and additional projects are in the pipeline," Beer said, noting that the bank was awaiting further details, particularly in the transport and railway sectors.
She also mentioned that a €60 million agreement is expected to be signed soon to provide financial support to micro, small- and medium-sized enterprises for sustainable production initiatives.
Beer reiterated the EIB's commitment to supporting Bangladesh's interim administration under the European Union's broader approach, which emphasizes good governance, democratic values and human rights.
The interim administration, led Yunus, took office following the ouster of former prime minister Sheikh Hasina, who stepped down amid mass protests and a violent uprising in August last year.
Source: Qatar Tribune