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ADB provides $260 million for infrastructure in Bangladesh

Staff Writer |
The Asian Development Bank (ADB) and the government of Bangladesh have signed agreements for $260 million in loans to help sustain and increase infrastructure investments in Bangladesh, particularly in financing public-private partnership (PPP) projects as well as renewable energy interventions.

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Kazi Shofiqul Azam, secretary of Bangladesh's Economic Relations Division (ERD), and Manmohan Parkash, country director of ADB, signed the loan agreements on behalf of Bangladesh and ADB, respectively, at a ceremony in Dhaka on Sunday.

The assistance forms the first tranche of 526 million U.S. dollars multitranche ADB loans for the Third Public-Private Infrastructure Development Facility (PPIDF 3).

The support consists of a $500 million market-based loan to finance medium and large-scale PPP infrastructure projects and a 26 million U.S. dollars concessional loan to finance small and medium-sized renewable energy and energy efficiency facilities, primarily in the rural areas of the country.

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