The Asian Development Bank (ADB) on Thursday signed an agreement with the interim government to lend $100 million for supporting Bangladesh’s infrastructure development.

The government and the Manila-based lending agency signed the agreement under the “Strengthening Bangladesh Infrastructure Finance Fund Limited Project-Additional Financing” scheme in the capital.

The signing ceremony marked a key milestone in advancing infrastructure development through public-private partnerships (PPP).

Economic Relations Division Secretary Md Shahriar Quader Siddiqui signed the agreement with ADB Country Director Hoe Yun Jeong during a ceremony attended by senior officials from both organisations.

The project, which will run from 2024 to 2029, is aimed at strengthening the Bangladesh Infrastructure Finance Fund Limited (BIFFL) to boost infrastructure investments through Public-Private Partnerships.

The Finance Division of the Ministry of Finance sponsors the project, while BIFFL will serve as the implementing agency.

A separate project agreement between ADB and BIFFL has also been signed to support the initiative.