The City Bank Sustainable Infrastructure Project
Bangladesh
Proposed
Multiple Areas
Quick Facts
More About This Project
Bangladesh has set the Bangladesh Vision 2041, which seeks to eliminate extreme poverty and reach High-Income Country status by 20411. The vision recognizes infrastructure as critical to addressing the constraints on promoting private sector-led growth and unlocking a higher trajectory of growth for Bangladesh. The proposed loan to City Bank Plc will support private sector participation in infrastructure development in the country. City Bank Plc is one of the largest and oldest private commercial banks in the People’s Republic of Bangladesh. It is listed both on the Dhaka Stock Exchange and the Chittagong Stock Exchange.
1 Making Vision 2041 a Reality, Perspective Plan of Bangladesh, 2021-2041
NDB is providing the loan to City Bank Plc for on-lending to private sector sub-borrowers for financing investments in sustainable infrastructure projects in clean energy and energy efficiency, transport infrastructure, and digital infrastructure sectors in the country.
The objective of the Loan is to promote infrastructure investments in Bangladesh by providing financing to the private sector. This is in line with Bangladesh’s Vision 2041 which has outlined the need to accelerate private sector investments in infrastructure to bridge the gap. Through the Loan, NDB will support City Bank’s contribution towards this strategy and increase its investments in projects aligned with the Paris Agreement.