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Bank okays loans in Indonesia, Bangladesh

The Asian Infrastructure Investment Bank said on Tuesday that it had approved three new loans totaling $285 million to finance infrastructure projects in Indonesia and Bangladesh. The announcement brought the multilateral development bank's total lending to over $2 billion so far, according to a news release from the AIIB. The new loans included $125 million for a dam project in Indonesia and $100 million for the Indonesian Regional Infrastructure Development Fund. Both projects were cofinanced with the World Bank. Another $60 million loan was granted to improve a gas transmission network in Bangladesh, which was cofinanced with the Asian Development Bank.