AIIB loans for power network project

The government has signed a loan agreement with the Asian Infrastructure Investment Bank (AIIB), totalling US$109.78 million, EUR 29.42 million and RMB 132.49 million, for the implementation of the 'Southern Chattogram and Kaliakoir Transmission Infrastructure Development Project'.

Mirana Mahrukh, Additional Secretary of the Economic Relations Division, and Rajat Misra, acting vice-president for Investment Clients Region I and Financial Institutions and Funds, Global (VP IC1), signed the agreement on December 10, reports BSS.

Power Grid Bangladesh PLC will implement the project.

The main objective of the project is to improve the reliability and capacity of the power transmission network in the southern Chattogram and Kaliakoir regions.