ID :
140215
Tue, 08/31/2010 - 21:12
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Shortlink :
https://oananews.org//node/140215
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ADB to give $100 mn loan for India-Bangladesh electric proj
ADB
New Delhi, Aug 31 (PTI) The Asian Development Bank
Tuesday said it will provide USD 100 million loan for a
cross-border electricity initiative between India and
Bangladesh, which is expected to provide impetus for increased
power trading in the South Asian region.
The Manila-headquartered bank's board has approved loan
for the Bangladesh-India Electrical Grid Interconnection
Project, which is scheduled for completion by December 2012,
ADB said in a statement.
"The funds will be used to build a 40 kilometer 400 kv
transmission line, along with a high voltage direct current
substation and connecting loop, linking the western electrical
grid of Bangladesh with India’s eastern grid," it said.
The project is expected to result in flow of at least an
additional 500 megawatt of power to Bangladesh by 2012. It
would be beneficial for the country where less than half of
its 15.6 crore people have access to power.
"Connecting the two grids will demonstrate the
substantial economic benefits that come from enhanced regional
cooperation and help to address energy gaps across the
region," ADB Director General (South Asia department) Sultan
Hafeez Rahman said.
ADB's loan, from the Asian Development Fund, will take
care of around 63 per cent of the total costs project of USD
156.8 million.
The loan has a 32-year term, including a grace period of
eight years, with interest charged at 1 per cent annually
during the grace period and 1.5 per cent per annum for the
rest of the term.
"The balance of the investment of USD 58.6 million will
be funded by government of Bangladesh, while interconnection
facilities on the Indian side will be financed, developed and
operated by India," ADB said. PTI PPB
KAB
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New Delhi, Aug 31 (PTI) The Asian Development Bank
Tuesday said it will provide USD 100 million loan for a
cross-border electricity initiative between India and
Bangladesh, which is expected to provide impetus for increased
power trading in the South Asian region.
The Manila-headquartered bank's board has approved loan
for the Bangladesh-India Electrical Grid Interconnection
Project, which is scheduled for completion by December 2012,
ADB said in a statement.
"The funds will be used to build a 40 kilometer 400 kv
transmission line, along with a high voltage direct current
substation and connecting loop, linking the western electrical
grid of Bangladesh with India’s eastern grid," it said.
The project is expected to result in flow of at least an
additional 500 megawatt of power to Bangladesh by 2012. It
would be beneficial for the country where less than half of
its 15.6 crore people have access to power.
"Connecting the two grids will demonstrate the
substantial economic benefits that come from enhanced regional
cooperation and help to address energy gaps across the
region," ADB Director General (South Asia department) Sultan
Hafeez Rahman said.
ADB's loan, from the Asian Development Fund, will take
care of around 63 per cent of the total costs project of USD
156.8 million.
The loan has a 32-year term, including a grace period of
eight years, with interest charged at 1 per cent annually
during the grace period and 1.5 per cent per annum for the
rest of the term.
"The balance of the investment of USD 58.6 million will
be funded by government of Bangladesh, while interconnection
facilities on the Indian side will be financed, developed and
operated by India," ADB said. PTI PPB
KAB
The information contained in this electronic message and any attachments to this
message are intended for the exclusive use of the addressee(s) and may contain
proprietary, confidential or privileged information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please notify
the sender immediately and destroy all copies of this message and any attachments
contained in it.
