Govt-ADB ink $260m deal for infrastructure dev

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PV Desk : The government today signed agreements with the Asian Development Bank (ADB) for US$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.

Kazi Shofiqul Azam, Secretary, Economic Relations Division (ERD), and Manmohan Parkash, Country Director, ADB, signed the loan agreements on behalf of their respective sides at a function at the ERD in city’s Sher-e-Bangla Nagar area, said a press release.

The assistance forms the first tranche of $526 million 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 concessional loan to finance small and medium-sized renewable energy and energy efficiency facilities, primarily in the rural areas of the country.