Philippines-based Asian Development Bank (ADB) has granted a $300 million, 25-year term loan for the development of Bangladesh’s energy sector, Bangladesh News 24 hours reports. The Islamic Development Bank is providing $200 million, while the Bangladesh government is offering more than $81 million for a $581.2 million project.
The energy infrastructure credit facility will help meet the country’s requirement for more energy-efficient generating plants and greater use of renewable power sources. Ashuganj Power Station, Bangladesh Power Development Board and the power division of the country’s energy ministry are among the executing agencies.
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