The Bangladeshi Government has signed two financing agreements worth $515m with the World Bank to finance the expansion of the country’s electricity transmission network, as well as improve insurance coverage.
The credits to the government are being provided by World Bank’s concessional lending entity International Development Association (IDA).
The first financing agreement will see the bank provide a $450m credit for the Enhancement and Strengthening of Power Transmission Network in Eastern Region project, which aims to improve the reliability of electricity supply and reduce load shedding in the eastern region, covering Cumilla and Noakhali, in addition to part of greater Chittagong.
The project will see the construction of 13 new substations and the rehabilitation of an existing substation in the eastern region of the country.
Source : Power Technology