ADB gives $300 mn loan to Bangladesh

August 11th, 2011 - 2:44 pm ICT by IANS  

Dhaka, Aug 11 (IANS) The Asian Development Bank (ADB) Thursday approved a loan of $300 million to Bangladesh to help develop the country’s energy infrastructure and raise poverty reduction efforts, Xinhua reported Thursday.

The money will be used in various power projects, including renewable energy sources, the Manila-based lender said in a statement.

Inadequate natural gas supplies and lack of diverse power sources is expected to leave the country with an estimated electricity deficit of over 1,200 MW in 2011.

Only 49 percent of people in Bangladesh have access to electricity. Frequent shortages and unreliable supplies have perpetuated underdevelopment with nearly half the population living below the extreme poverty line of $1.25 per day.

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