The Islamic Development Bank will give Bangladesh $380 million in loan for two power projects.
The IDB and Bangladesh government signed two agreements to that effect at the IDB Headquarters in Jeddah, Saudi Arabia, on Saturday.
According to the agreements, the IDB will give $200 million for the “Ashuganj Power Station Efficiency Improvement Project” and $180 million for the “Construction of Bhola 225MW Combined Cycle Power Plant Project”.
IDB President Ahmad Mohamed Ali and Economic Relations Division Senior Secretary Iqbal Mahmood signed the agreements on behalf of their organisations, said an ERD press release yesterday.
To meet the growing demand for electricity, the two proposed power plants would be built in the northeast and west zone of the country, read the press release, adding that the low-cost power plants would run on gas.
The release also said Shahbajpur gas field in Bhola would supply gas for the planned power station of the Bhola project.