City Bank has signed an escrow account agreement with RAJUK and United Delcot (a Bangladesh-China JV) for Purbachal Water Supply Public Private Partnership (PPP) Project recently.
The signing ceremony was held at RAJUK site office at Purbachal in presence of Sharif Ahmed, State Minister for Housing and Public Works as the chief guest, said a press release.
Md Shahid Ullah Khandaker, Secretary to the Ministry of Housing and Public Works, Sultana Afroz, Secretary to the GoB and CEO of Public Private Partnership Authority and Engr. Taqsem A Khan, Managing Director, Dhaka WASA, were present as special guests.
This is a Public Private Partnership (PPP) Project and first of its kind in Bangladesh in the public utility sector.
Through this PPP project, a total of 320 kms water distribution pipeline network will be constructed at 6,227 acres of Purbachal area to meet 340 million liters per day need of water supply to the residence of the newly-developed locality.
City Bank’s dedicated PPP team is working for the project on its long term financing requirement and through this agreement.
City Bank is going to start working as an escrow bank between RAJUK and United Delcot.