ADB to provide $357m to develop power lines EB Report/UNBThe Asian Development Bank (ADB) will provide $350 million in loan and $7.5 million in grant for a project to develop two power lines in support of Bangladesh’s national target of electricity for all by 2021. Economic Relations Division (ERD) Secretary Kazi Shofiqul Azam and ADB Country Director Manmohan Parkash signed the agreements on behalf of Bangladesh and ADB respectively, reports UNB. In addition to a $350 million ADB loan, the assistances comprise a $7 million grant from the Japan Fund for the Joint Crediting Mechanism (JFJCM), which will finance new high-technology energy efficient conductors. These have less resistance to power flow, higher power transferring capacity, and operate more reliably in tropical weather. This climate change mitigation accounts for $93 million of the investment, comprising $86 million from the ADB loan and $7 million from the JFJCM grant.

Source: Energy Bangla September 10, 2018 11:48 UTC