Bangladesh Cinches $300M Loan To Improve Power Supply

Law360, New York (January 5, 2012, 2:31 PM EST) -- The Asian Development Bank has agreed to provide the Bangladesh government with a $300 million loan to replace five power generation plants as well as build renewable energy sources, local media reported Wednesday.

The money will go toward a $581 million project to revamp the country's electrical grid, $200 million of which will be provided by the Islamic Development Bank, and $81 million of which will be put up by the government, the reports said.

The funding from the Manila, Philippines-based Asian Development Bank is part of a...
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