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Print edition: 2017-03-30
China-led AIIB approves $60 million to finance Bangladesh gas project
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The Beijing-based Asian Infrastructure Investment Bank (AIIB) will provide Bangladesh loans worth $60 million to address the country's gas supply deficit, the AIIB said on Tuesday. The fund will be used to help Bangladesh's Natural Gas Infrastructure and Efficiency Improvement Project, as the lack of gas supply would "eventually impact Bangladesh's energy security and constrain the nation's economic growth", the AIIB said in a press release. The project is co-financed by the Asian Development Bank (ADB), which approved a $167 million loan in November to boost Bangladesh's natural gas production and expand transmission infrastructure.
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Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017