ADB approves $500M loan for Bangladesh power plant

Bangladesh: The Asian Development Bank (ADB) has approved a $500 million loan for the development of an 800 MW power plant in Khulna, Bangladesh along with the associated power transmission facilities.

The project will also finance construction of a 230 kV substation at the power plant and 29 km of high-capacity transmission lines to transfer the generated electricity from Rupsha to the grid, reports bdnews24.com.

The total cost of the project is $1.14 billion, with the Islamic Development Bank contributing $300 million in co-financing and the government contributing $338.5 million on top of the ADB’s support.

The project is due to be completed by the end of June 2022.

Source: bdnews24.com