Bangladesh to boost private infrastructure investment with ADB help
6/10/2008 16:20
Bangladesh will mobilize massive private-sector funds to invest in
much-needed infrastructure projects with the help of the Asian Development Bank
(ADB), local newspaper reported today.
ADB will provide a US$165 million loan
to support a Public-Private Infrastructure Development Facility in the country,
the leading English daily The Independent reported.
The project will catalyze
private-sector investments of up to US$600 million to finance 15 to 20 projects,
mostly in energy, a release was quoted as saying.
The energy-sector schemes
will add at least 900 megawatts of power-generation capacity, providing
electricity to about 100,000 more households through the renewable-energy
program.
ADB is providing US$82 million to help finance large infrastructure
projects, US$50 million to assist small- and medium-sized energy projects, and
US$33 million to promote renewable energy.
A US$500,000 technical assistance
grant will also be provided by ADB for training and support.
Bangladesh's
public investments in the infrastructure sector have remained stagnant in recent
years, accounting for only 6 to 7 percent of the GDP.
At present, only 60
percent of urban households and 22 percent of rural households have electricity
connections.
Xinhua
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