The Asian Infrastructure Investment Bank (AIIB) has approved a loan of $165 million for the upgrade and expansion of power distribution system in Bangladesh.

$165M loan approved for distribution system upgrade

The Asian Infrastructure Investment Bank (AIIB) has approved a loan of $165 million for the upgrade and expansion of power distribution system in Bangladesh.

The $165 million loan will provide funding for the upgrade two grid substations in northern Dhaka, expansion of electricity coverage by providing 2.5 million new service connections in rural areas, and for conversion of overhead distribution lines into underground cables, reports Prothom.

The project, upon completion, is expected to benefit about 12.5 million people in rural areas.

Source: Prothom