On April 1, 2025, the Board of Directors (Board) of the New Development Bank (NDB) approved a loan of up to USD 25 million to City Bank PLC for the City Bank Sustainable Infrastructure Project, the NDB’s first non-sovereign loan in Bangladesh. The Project is co-financed by NDB, and the Asian Infrastructure Investment Bank (AIIB).
The City Bank Sustainable Infrastructure Project will promote sustainable infrastructure projects in Bangladesh by providing medium to long-term financing to the private sector, fostering sustainable economic growth. The Project will support private sector participation in infrastructure development in the country and also support climate change mitigation measures in Bangladesh.
The loan will be utilized by City Bank PLC, one of the largest and oldest private commercial banks in the People’s Republic of Bangladesh established in 1983, for on-lending to sub-borrowers for financing investments in infrastructure projects in clean energy and energy efficiency, digital infrastructure and e-mobility sectors.
Background Information
NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.