Bangladesh signs €120m deal with German bank to modernise power distribution


FE Team | Published: October 25, 2021 22:45:08 | Updated: October 26, 2021 16:38:28


Bangladesh signs €120m deal with German bank to modernise power distribution

Bangladesh has signed a loan agreement worth 120 million euros with the KfW Development Bank of Germany to implement the ‘Modernisation of Power Distribution-Smart Grids Phase I’ project

The deal was signed on Monday for the project that was initiated for modernising the distribution grid infrastructure in order to contribute to a safer and stable electricity supply.

The project will be implemented by the Bangladesh Rural Electrification Board (BREB) and the West Zone Power Distribution Co. Ltd, reports BSS.

Economic Relations Division (ERD) Secretary Fatima Yasmin, Director South Asia of KfW Development Bank Carolin Gassner Director of KfW Bangladesh Anirban Kundu signed the agreement.

The signing ceremony was attended by senior officials from the ERD and the KfW Development Bank. The loan will be repaid in 25 years with a grace period of 5 years.

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