ADB provides $260 million for infrastructure in Bangladesh
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. ■