$100m AIIB loan to deal with Covid-19 pandemic

Economic Relation Division (ERD) has finalised the Beijing-backed Asian Infrastructure Investment Bank(AIIB) loan of $100 million funding facility to help public and private sector entities deal with the pandemic.

The $ 100 million loan is part of a $250  million funding facility the AIIB has announced last month. Beijing-backed Asian Infrastructure Investment Bank (AIIB) last month approved of a $250 million loan to Bangladesh to help the country cope with the coronavirus pandemic.

An official of the ERD said the two consecutive meetings, presided by ERD joint secretary and wing chief of Asia JEC and F&F Md Shaheiar Kabir Siddiky, were held at the division to finalise the signing of an agreement between the Bangladesh government and  AIIB.

Principal Secretary of Prime Minister Dr  Ahmed Kaikaus recently held a meeting over the lack of coordination of health ministry and the new project COVID-19 also discussed AIIB fund, which is going to include World Bank fund, official also said.

ERD joint secretary and wing chief of Asia JEC and F&F Md Shaheiar Kabir Siddiky said an agreement will be  signed within this month.

According to the meeting decision the  Central Medical Storage Depot (CMSD) will have to take an initiative to buy ICU beds, ventilators etc from AIIB and WB joint $200 fund project titled 'Emergency Response and Pandemic Preparedness'.

In meeting minutes, it decided that there was no need to set up a separate 200-bed Covid-Hospital in Mohakhali Market under Dhaka North City Corporation.

As a result, the government will set up microbiologist lab with PCR 21 medical enterprises. Besides , health ministry will also set up 10 bed isolation center hospitals in every districts across the country.

The COVID -19 medical centers in 8 internal airports and 3 seaports.

Besides, 64 EPI units and 81 secondary and tertiary infection prevention control units to be set up in 64 districts, according to minutes of meeting. 

According to ERD meeting AIIB loan commitment fee 0.25% and interest rate @ 6 months labour plus a fixed spread.

Besides, payment duration will be 35 years including 5 years grace period.