Release of $50M ADB Loan is Near, says Bangladesh

Bangladesh is expecting the Asian Development Bank to transfer $50 million for the country's power sector development program this month. Government sources say that the ADB agreed to release the funds after taking note of the state?s efforts to comply with the lender?s conditions, including the corporatization of the Dhaka Electric Supply Authority and the Power Development Board. Officials at the Power Division revealed that the aid will go to settling the arrears of various ministries to power agencies. The disbursement, according to sources, would prompt the issuance of another loan worth $185 million to bankroll new power projects.

Source: $50m ADB fund likely in July as DESA, PDB corporatisation on (New Age, Bangladesh)

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