ADB offers Bangladesh $200m for power projects

20 November 2002 – Asian Development Bank (ADB) on Tuesday said it would offer Bangladesh a credit worth $200m to finance the country’s power supply projects. Toru Shibuichi, ADB mission chief in Bangladesh, said his bank would provide the money in 2003 for use in the country’s power transmission and distribution projects.

“The ADB assistance will strengthen the Bangladesh power sector,” Toru told reporters following a meeting with Finance Minister M. Saifur Rahman in Dhaka.

This is a part of $1bn fund the ADB has already promised to provide over the next three years to finance Bangladesh development projects including those in the energy sector.

Rahman said much of the ADB money would be spent on boosting electricity supply to the rural areas.

The country’s current power demand was for 3200 MW leaving a generation shortfall of 200 MW every day. Only 30 per cent of Bangladesh’s more than 130 million population have access to electricity at present.

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