The Asian Infrastructure Investment Bank (AIIB) will provide Bangladesh one billion dollar for the development of various projects.

Cabinet Secretary Mohammad Shafiul Alam today disclosed about the AIIB’s financial assistance, referring to the sideline meeting between Finance Minister AHM Mustafa Kamal and AIIB President JinLiqun at the fourth annual meeting of the board of governors of the AIIB.

The AIIB meeting was held in Luxembourg from July 12 to 13.

Following the meeting, it was reported that the AIIB will extend all-out financing support to Bangladesh in the coming days and has even agreed to let the country select its own projects as per its development demands.

Then, Kamal informed Jin that Bangladesh will need financing support on energy, connectivity and social development, especially education, to sustain its current growth momentum into the next decade, according to a press statement from the finance ministry.

Meanwhile, the cabinet secretary at a press briefing said that the cabinet today approved the national Small and Medium Enterprise (SME) policy.