Bangladesh has become one of the first countries to have secured a loan from the China-led Asian Infrastructure Investment Bank. The country will get $165 million for a power distribution system upgrade and expansion project. The board of the bank approved its first 4 loans totally $509 million to 4 countries yesterday within 6 month's of its establishment.The other 3 countries are Pakistan, Indonesia and Takjikistan. Totally financed by the AIIB, the Bangladesh project will expand electricity coverage by providing 2.5 million new connections in rural areas, upgrade 2 grid substations and convert 85 km circuit overhead distribution lines into underground cables in north Dhaka.Mohammed Zaman, Additional Secretary in the Finance Ministry told reporters the project is expected to benefit 12.5 million people in rural areas. AIIB which supports infrastructure development and regional connectivity in Asia is targetting lending $1.2 billion in 2016. Germany, South Korea and Britain are among its 57 members.