According to the official website of the Beijing-based Asian Infrastructure Investment Bank (AIIB) on Tuesday, Bangladesh is getting loans worth $60 million to address the country's gas supply deficit.
The fund will be used to help Bangladesh's Natural Gas Infrastructure and Efficiency Improvement Project, as the lack of gas supply would "eventually impact Bangladesh's energy security and constrain the nation's economic growth", the AIIB said in a press release.
The project is co-financed by the Asian Development Bank (ADB), which approved a $167 million loan in November to boost Bangladesh's natural gas production and expand transmission infrastructure.
What it said in its website about the project is, “The Project includes two components. Under component 1, seven wellhead compressors (5 operating and 2 stand-by) will be installed in Titas Gas Field. Upon completion, it is estimated that an additional 1.0 trillion cubic feet of gas will be produced from the Titas gas field. Under component 2, a 181 km, 36-inch gas transmission pipeline will be constructed. The proposed pipeline will constitute a trunk transmission pipeline between Chittagong and Bakhrabad to transport regasified LNG to central and west gas markets.”