Dhaka: The interim government has signed a 100 million dollar loan agreement with the Asian Development Bank (ADB) to support infrastructure development.
The agreement was signed on Thursday (December 12).
On behalf of Bangladesh government Secretary of the Economic Relations Division Md. Shahriar Quader Siddiqui and Country Director of the Bangladesh Resident Mission Hoey Yun Jeong signed the agreement on behalf of the Asian Development Bank.
The project will be implemented by Bangladesh Infrastructure Finance Fund Limited by 2029 at the initiative of the government's Finance Division.
A press release from the Economic Relations Division said that ADB will provide a $100 million loan for the project to invest in infrastructure development through public-private partnership and increase the capacity of BIFFL.
An agreement has been signed between ADB and BIFFL in this regard.
It was further said that this loan from ADB has been received as Ordinary Capital Resources. The loan will be repaid over a total of 25 years, including a five-year grace period.
Yesterday, ADB announced in a press release that it has approved a policy-based loan of 600 million dollars for Bangladesh.
The loan will be used to strengthen domestic asset management, public investment efficiency, and structural reform activities to develop the private sector.