China has taken an initiative to set up an “Asian Infrastructure Investment Bank (AIIB)” involving Bangladesh, India and other Asian countries to finance the big infrastructure projects aimed at establishing infrastructural connectivity among the Asian countries.
A decision in this regard is expected to be finalized at the meeting of the heads of the working group to be held in Beijing immediately after the two-day conference beginning on June 28 on “Infrastructure Connectivity in Asia-the Financing Challenge,” according to a message received in Dhaka from Beijing.
According to sources, the AIIB will function like World Bank and ADB and prepare procurement guidelines of its own to finance particularly the infrastructure projects which would establish greater connectivity among the Asian countries.
Nearly 150 officials and scholars from 48 Asian countries, the US, Russia, Australia and New Zealand, are expected to attend the conference to be organized jointly by Boao Forum for Asia (BFA), the Global Foundation of Australia, China Center for International Economic Exchanges and the Dongcheng District Government of Beijing.
“The conference will formally invite the heads of working group for establishment of “Asian Infrastructure Investment Bank,” said founder member of BFA Syed Abul Hossain who will moderate a session on ‘Infrastructure Connectivity in Asia: Vision, Planning and Constraints’ at the conference. The former Information and Communication Technology (ICT) minister said the working group will sit for a meeting to discuss mainly the establishment of AIIB and the countries will be invited to join the initiative for setting up an infrastructural connectivity among the Asian countries.