According to the AIIB, the objective of the project is to promote infrastructure investment in Bangladesh through the provision of private sector financing solution.
The Project is a senior unsecured term loan of up to USD 50 million to Eastern Bank Limited (EBL) to finance multi-sector infrastructure projects in Bangladesh. As a Borrower of the facility, EBL will utilize the loan proceeds to onlend to sub-borrowers engaged in infrastructure development activities in the country.
Established in 1992, EBL is a private commercial bank that provides a full range of banking products and services and operates through three core businesses segments comprising of corporate, retail and small and medium-sized enterprises, and treasury.
From the company's website:
When in 1992 Bank of Credit and Commerce International (BCCI) collapsed, Bangladesh Bank stepped in to the rescue of its local depositors. The local operation of BCCI was then restructured and with a 100 percent Bangladeshi ownership a new bank called Eastern Bank Limited came into being.
AIIB's Project Team Leader:
Neeraj Jain - Senior Investment Officer, Financial Institutions and Syndication
Financial Intermediary - Eastern Bank Limited:
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html
ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html