Bangladesh and 21 other Asian countries on Friday signed the intergovernmental Memorandum of Understanding (MOU) to establish the Asian Infrastructure Investment Bank (AIIB).
Representatives of the 22 nations signed the MoU at the Great Hall of the People in the heart of Beijing, according to media reports.
Bangladesh was represented by state minister for finance and planning MA Mannan, who signed the MoU for the country.
The new Bank would fund the construction of roads, railways, power plants and telecommunications networks in Asia to keep the region's economy growing.
The Chinese government already allocated 2.8 hectares of land in Beijing and provided $2.8 billion to construct the AIIB headquarters there.
The authorised capital of the AIIB will be $100 billion, with the initial subscribed capital allocated for the regional founding members at $50 billion. The remaining $50 billion will be raised from regional and non-regional members wishing to join the AIIB.
Bangladesh's joining to the AIIB would enable the country to get financial and technical support for building and improving its infrastructure, which is an urgent requirement for achieving higher economic growth and promoting the country to the middle-income group.
China has held a series of multilateral and bilateral consultations this year on setting up the AIIB and received positive responses.
During his Southeast Asia visit last October, Chinese President Xi Jinping put forward a proposal to establish the AIIB to promote interconnectivity and economic integration in the region.
