Friday 7 August 2020 ,
Friday 7 August 2020 ,
Breaking News
  • Covid-19: 27 more die, 2,851 new cases reported in 24 hours
  • Covid-19: 27 more die, 2,851 new cases reported in 24 hours
12 December, 2019 00:00 00 AM
Print

ADB to provide $333m for power, transportation sectors

BSS, Dhaka

The Asian Development Bank (ADB) will provide US$333.26 million loans for expansion of power transmission lines and designing the Dhaka Mass Rapid Transit (MRT) line.

In this regard, the government yesterday inked several agreements with ADB at a function at the National Economic Council (NEC) conference room in the capital, said a press release.

Economic Relations Division (ERD) Secretary Monowar Ahmed and ADB Country Director Manmohan Parkash signed the agreements on behalf of their respective sides.

For expanding power transmission lines in greater Dhaka and the western zone of Bangladesh, the government signed agreement for €271.84 million ($300 million equivalent) loans.

Besides ADB’s loan, the Asian Infrastructure Investment Bank (AIIB) is considering $200 million in co-financing to finance transmission lines, substations and an enterprise resource planning system.

The assistance also comprises a $750,000 grant from the People’s Republic of China’s Poverty Reduction and Regional Cooperation Fund (PRC Fund).

Manmohan Parkash said upgrading and expanding the transmission network is crucial to improve power supply efficiency after significant improvement in power production in Bangladesh.

“The project will help achieve the government target of electricity for all by 2021 by improving the reliability and efficiency of the electricity supply in the greater Dhaka and western zone of Bangladesh,” he added.

 

Comments

Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01
02030405060708
09101112131415
16171819202122
23242526272829
3031
More Business stories
Bangladesh Railway losing Tk 4-5cr every day Bangladesh Railway is losing Tk 4-5 crore in revenue every day following the suspension of all train services across the country amid the coronavirus outbreak. On March 24, the government suspended all…

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting