The China-led Asian Infrastructure Investment Bank (AIIB) will provide $4.5 billion to Bangladesh in the next five years, according to a press release of the finance ministry.

The funds will be spent on climate-related projects and other sectors in the country, the ministry said.

A team from Bangladesh shared the information after attending the annual general meeting of the AIIB that concluded today in Egypt.

Meanwhile, Bangladesh has urged the AIIB to soften the conditions of the loan.

The AIIB has so far provided a total of $3.27 billion in loans for 18 projects to Bangladesh.