By NNN-BSS
Dhaka : A Loan agreement worth Kuwaiti Dinar 4.0 million (US$ 13 million) to finance “Greater Chittagong Power Transmission and Distribution Project (Phase-III)”was signed between the Government of Bangladesh (GOB) and the Kuwait Fund for Arab Economic Development (KFAED).
Md. Aminul Islam Bhiyan, secretary, ERD, Ministry of Finance and Ghanem Sulaiman Al-Ghenaiman, Deputy Director General for Investment have signed the agreement on behalf of their
respective Governments.
Abdullatif Ali Al-Mawash the Ambassador, Embassy of the State of Kuwait in Dhaka and the concerned GOB officials were also present in the agreement signing ceremony, a press release said.
The project consists of the construction, extension, renovation and rehabilitation of the transmission and distribution lines as well as the low voltage network.
Implementation of the project will meet the growing electricity demand in Chittagong Metropolitan City and its adjacent industrial areas and Cox’s Bazar town.
It may be mentioned that the KFAED had earlier provided a loan of about US$ 40 million for this project as per agreement which was signed in 2000.
KFAED is one of the major development partners of Bangladesh. it has been providing economic assistance towards socio-economic development of Bangladesh since independence.
At present, there are a number of important projects under implementation with KFAED financing in Power and road communication sectors.