ADB to Fund Infrastructure and Energy Projects in Bangladesh
11 December 2014
The Asian Development Bank (ADB), along with other bilateral donors, will fund US$4.5 billion worth of infrastructure and energy-related projects in Bangladesh. According to the Economic Relations Division (ERD) of the Bangladesh Ministry of Finance, an inter-ministerial committee selected 9 projects out of 25 submitted by different ministries and divisions seeking funding for faster implementation. ERD Secretary Mohammed Mejbahuddin presided over the project selection committee.
The ERD is seeking funding from ADB for four of the nine projects – improvement of water management infrastructure of polder 56/57 in Bhola district; Khulna 750-850 MW liquefied natural gas-based combined cycle power plant project; Solar Irrigation Pump Project; and capacity upgradation of Bheramara HVDC station to import an additional 500 MW power from India.
Other projects will receive assistance from China and South Korea, as well as funding from the Government of Norway and the Japan International Cooperation Agency. Projects that failed to attract funding during the selection committee meeting will be implemented using local resources and proceed through the planning commission.
Fin min gives go-ahead to nine large projects