ADB approves $357 million for two Bangladesh power lines
The Asian Development Bank has approved an assistance package totalling more than $357 million for a project to develop two power lines in Bangladesh.
The loan is in support of Bangladesh’s national target of electricity for all by 2021, which faces many challenges such as infrastructure deficiencies, and including modern and affordable energy services in face of recurring shortages and rising demand.
The investment comprises of a $350 million ADB loan, a $7 million grant from the Japan Fund for the Joint Crediting Mechanism to partially finance hi-tech energy-efficient conductors and a $500,000 grant from the Republic of Korea e-Asia and Knowledge Partnership Fund to promote socially inclusive growth and gender equality.
‘Bangladesh has been experiencing impressive economic growth over the last decade, but to maintain and accelerate the trend more investments are needed for the power transmission network to meet growing electricity demand,’ said ADB senior energy specialist Aiming Zhou.
‘In support of this, the ADB project will make the power transmission system more efficient, reliable and environmentally friendly.’
According to ADB, about 35 million people in Bangladesh are without access to electricity.
The project will develop a 126-km-long 230-kV transmission line from Barisal to Faridpur; and a 104 km-long 400-kV transmission line from Bogra to Rohanpur, along with sub-stations, transformers, and associated extensions and connections.
Source: New Age Bangladesh