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March 28, 2019

AIIB approves loan for power upgrade project in Bangladesh

Asian Infrastructure Investment Bank (AIIB) has approved a loan of $120m to support a power transmission system expansion and upgrade project in the Chittagong region, Bangladesh.

Asian Infrastructure Investment Bank (AIIB) has approved a $120m loan to support a power transmission system expansion and upgrade project in the Chittagong region of Bangladesh.

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The framework enables the AIIB president to approve projects that meet the predetermined criteria agreed with the Board.

AIIB president Jin Liqun said: “This vital investment marks the first project approved under AIIB’s Accountability Framework, which clearly demarcates the roles and responsibilities of the Board of Directors and the President in respect of financing operations of the Bank.

“Through the Accountability Framework, we sought to establish a new model of governance for AIIB with an effective, strategic Board of Directors that directs and oversees the work of an efficient, accountable management, together creating a Bank able to serve its clients’ needs effectively and efficiently.”

“Ensuring a more stable source of electricity in Bangladesh’s second largest economic centre will encourage more businesses to invest in the region”

The project will see the construction and upgrade of more than 46km of double-circuit transmission lines and associated substations and line bays.

Additionally, the upgrade project is expected to improve voltage stability as well as minimise voltage fluctuations and the need to spread the demand for electrical power. The upgrade of the transmission system will enable more residences and businesses to connect to the regional grid.

The Bangladesh Power System Upgrade and Expansion Project is one of four projects that have secured financing from the AIIB. All projects are in line with the Bangladeshi government’s objective to provide affordable electricity for all by 2021.

AIIB vice-president and chief investment officer D. Jagatheesa Pandian said: “Ensuring a more stable source of electricity in Bangladesh’s second largest economic centre will encourage more businesses to invest in the region, creating jobs and other economic benefits.

“Addressing the power shortages will also remove the risk local businesses face when having to rely on an unstable power supply.”

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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