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Bangladesh gets $616 million loans from ADB to improve power systems
Bangladesh is getting a $616 million loan from the Asian Development Bank or ADB for improving the coverage of power and efficiency of the distribution network.
Published : 29 May 2017, 10:55 AM
Updated : 1 June 2017, 07:36 AM
Economic Relations Division Secretary Kazi Shofiqul Azam and ADB Country Director Kazuhiko Higuchi signed the agreement in Dhaka on Monday, the ADB said in a statement.
It said the fund will be used to rehabilitate and expand over 50,000 km of rural distribution network, for construction of a 174-km 400 kV transmission link between the southern Bangladesh and Dhaka and for installation of automated control systems for the distribution network in Dhaka.
“Nearly one million households, majority in rural areas, will be newly connected through this project,” the statement quoted ADB Country Director Higuchi as saying. “The project will also help more power transmission to the Dhaka region to meet rising demand for electricity in the largest and rapidly expanding growth center in the country.”
The 'Power System Enhancement and Efficiency Improvement Project' is aimed to fulfil Bangladesh's goal of providing 100 percent access to electricity by 2021.
The total cost of the project is $1,059 million. ADB is providing a market-based loan of $600 million and a concessional loan of $16 million, with the Bangladesh government contributing $441 million, the statement reads.
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