The interim government has signed a $100 million loan agreement with the Asian Development Bank (ADB) to support the Bangladesh Infrastructure Finance Fund Limited Project.
The project will be implemented by Bangladesh Infrastructure Finance Fund Limited (BIFFL) by 2029 at the initiative of the government's Finance Division, says a press release from the Economic Relations Division.
It said ADB will provide a $100 million loan for the project to invest in infrastructure development through public-private partnership and increase the capacity of BIFFL.
An agreement has been signed between ADB and BIFFL in this regard. On behalf of Bangladesh government Secretary of the Economic Relations Division Md Shahriar Quader Siddiqui and Country Director of the Bangladesh Resident Mission Hoey Yun Jeong signed the agreement on behalf of the Asian Development Bank.
Md Shahriar Kader Siddiky, secretary of the Economic Relations Division (ERD), and Hoe Yun Jeong, country director of the ADB's Bangladesh Resident Mission, signed an agreement on behalf of their respective sides on Thursday.
The release said this loan from ADB has been received as Ordinary Capital Resources. The loan will be repaid over 25 years with a 5-year grace period.
Meanwhile, on December 11, ADB announced that it has approved a loan of $600 million to strengthen domestic asset management, public investment efficiency, and structural reform activities to develop the private sector.
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