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ADB to supply $700 bln loan for Bangladeshi power grid

The Asian Development Bank will provide a $700 million loan to Bangladesh to combat severe power supply shortages, the regional bank said in a statement issued on Wednesday.
By James Burbridge 28 November 2012 Asia Pacific / Companies & Finance 0 14553

The Asian Development Bank (ADB) will provide a $700 million loan to Bangladesh to combat severe power supply shortages, the bank said on Wednesday.

The multi-tranched loan will help finance new power connections for about 450,000 households, as well as the expansion and upgrading of power generation, transmission and distribution facilities. The first $185 million will go towards converting a gas-fired power plant in Khulna - the country’s third-largest city - into a more efficient and cleaner-burning combined cycle plant.

“Supply shortages are putting a severe strain on businesses...

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