The BRICS-established New Development Bank (NDB) has planned to raise its lending to Bangladesh development projects to US$ one billion this year, a vice-president of the Shanghai-based multilateral lender said on Wednesday.

Vladimir Kazbekov, a Vice-President and Chief Operating Officer (COO) of NDB, said the bank has approved US$ 320 million for the implementation of the Expanded Dhaka City Water Supply Resilient project. But this year it wants to more than triple the funding amount in view of Bangladesh`s development needs.

Kazbekov made the comments when he called on Chief Adviser Professor Muhammad Yunus at the State Guest House Jamuna in Dhaka, reports BSS.

The Chief Adviser appreciated the role of the new multilateral lender, saying it can make a significant contribution in upgrading its development infrastructure.

Kazbekov said the lender was also committed to making major support for the infrastructure development of the gas sector in Bangladesh.

The NDB was also interested in lending substantially to the country`s private sector in an effort to strengthen their capacity, Kazbekov said.

The Bangladesh Chief Adviser stressed NDB lending in social infrastructure such as housing facilities for thousands of workers in the country`s booming economic zones.

Kazbekov said the bank has introduced multi-currency lending, which will benefit Bangladesh.

Shahriar Kader Siddiqi, Secretary to the Economic Relations Division, said the NDB should focus on introducing country strategy programmes on Bangladesh in an effort to align its funding with the development priorities of Bangladesh.

BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, SDG Coordinator Lamiya Morshed and ERD Secretary Shahriar Kader Siddiqi were present at the meeting.