22 C
Dhaka
Saturday, February 15, 2025
Founder : Barrister Mainul Hosein

Bangladesh, WB sign $30m power transmission deal

spot_img

Latest New

NN Online:

The Government of Bangladesh and the World Bank (WB) have signed a $30 million additional financing agreement for the “Enhancement and Strengthening of Power Transmission Network in Eastern Region Project.”

Economic Relations Division Secretary Md Shahriar Kader Siddiky and World Bank Acting Country Director Gayle Martin signed the agreement on behalf of their respective sides.

The Power Grid Bangladesh PLC is implementing the project to ensure reliable power supply and meet the growing demand for electricity in greater Cumilla, Chattogram, and Noakhali districts.

The initial financing agreement of this project, amounting to $450.64 million was signed on 10 April 2018 under Scale-Up Facility (SUF) of World Bank, $50.00 million was cancelled from the original amount to repurposing for the Covid-19 related projects during the Covid period.

The loan repayment period is 30 years with a grace period of 5 years.

The interest rate for this loan agreement is 1.25 per cent and the service charge is 0.75 per cent. The maximum commitment charge is 0.5 per cent.

However the World Bank Board decided to waive the commitment charge for this year.

More articles

Rate Card 2024spot_img

Top News

spot_img