A loan agreement was signed today between the government of Bangladesh and the World Bank (WB) under which the lending agency will provide US$500 million to modernise the rural electricity distribution system under Dhaka and Mymensingh regions.
Economic Relations Division (ERD) Secretary Fatima Yasmin and World Bank Acting Country Director for Bangladesh and Bhutan Dandan Chen signed the loan agreement on behalf of their respective sides, reports BSS.
Under the Electricity Distribution Modernisation Programme, the Bangladesh Rural Electricity Board (BREB) will improve its electricity distribution services under Dhaka and Mymensingh divisions. The tenure of the project is January 1, 2022 to December 31, 2026.
The WB will also provide US$15 million as grants from its Clean Technology Fund (CTF).
To this end, another agreement was also signed on Wednesday between the government of Bangladesh and the WB at that time.