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Bangladesh to get $63 mn loan from Kuwait


Dhaka : Bangladesh will receive $63 million in loan from Kuwait for help in a power project and to achieve food security in the country, a statement said.

The Kuwait Fund for Arab Economic Development (KFAED) approved the loan Sunday under an agreement signed in Dhaka between itself and the Economic Relations Division of Bangladesh’s finance ministry, Xinhua reported citing a ministry release.

Under the agreement, an amount of $10 million has been given from Kuwait’s Goodwill Fund for the Promotion of Food Security in Islamic Countries to assist Bangladesh achieve food security.

Another $53 milion would help finance the Shikalbaha 225 MW Combined Cycle Power Plant project under the Bangladeshi Power Development Board.