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Dhaka Friday,  May 14, 2021

Govt okays $552m hard loans for 3 power projects

The government approved hard loans of half a billion US dollar for three power development projects.
The ministry of power, energy and mineral resources official said the ‘non-concessional loan committee’ of the government, headed by Finance Minister AMA Muhith, approved taking of US$552 million hard loan.
$257 million loan will be borrowed for setting up a 331-megawatt (MW) power plant at Shahjibazar, $85 million for enhancing capacity of 150MW Sylhet power plant to 225MW and $220 million for 400/230/132 kilovolt grid network development projects.
The Bangladesh Power Development Bank (BPDB) would borrow $257 million from the HSBC Hong Kong, and $85 million from the Islamic Development Bank (IDB) and the Power Grid Company of Bangladesh (PGCB) $220 million from the IDB.

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