The Asian Development Bank or ADB has approved $526 million in loans for Bangladesh to help boost infrastructure investment.
The multilateral lender said the funds will be used in financing public-private partnership or PPP projects and renewable energy plants. “The assistance consists of a $500 million market-based loan to finance medium and large-scale PPP infrastructure projects, and a $26 million concessional loan to finance small and medium-sized renewable energy and energy efficiency facilities, primarily in the rural areas of the country,” the ADB said in a statement on Tuesday.
A further $750,000 technical assistance has been also approved for capacity building of the state-owned financial institution Infrastructure Development Company Limited or IDCOL.
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