ADB to provide $583m loan

Special Correspondent: Asian Development Bank (ADB) has approved debt financing and partial risk guarantees totaling USD583 million to develop the Reliance Bangladesh Liquified Natural Gas (LNG) and power project.

ADB Dhaka office sources said that the approval was given in its board meeting on Tuesday.

The project, which includes a power generation facility to be located in Meghnaghat, near the capital city of Dhaka, and an LNG terminal, near Kutubdia island south of Chittagong, will significantly increase power generation and improve energy infrastructure in Bangladesh.

Michael Barrow, Deputy Director General for ADB's Private Sector Operations Department said, “ADB’s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country’s economic growth.”



risingbd/Dhaka/Dec 5, 2017/Hasnath/Nasim