ADB to give $310m to boost power supply
Tuesday, 11 February 2014
The government on Tuesday signed a $310-million loan deal with the Asian Development Bank (ADB) to give a further boost to the country’s power supply system and reduce power outages. The assistance is the second tranche of ADB financing under an overall multi-donor-supported project titled ‘Power System Expansion and Efficiency Improvement Investment Programme’ of $1.6 billion with the ADB contributing $700 million. Joint Secretary of Economic Relations Division (ERD) Saifuddin Ahmed and Deputy Country Director and Officer-in-Charge of ADB’s Bangladesh Resident Mission Stefan Ekelund signed the agreement on behalf of Bangladesh and the ADB respectively at a ceremony at the Bangladesh Resident Mission, ADB at city’s Sher-e-Bangla Nagar, according to a news agency.