To carry out the “Southern Chattogram and Kaliakoir Transmission Infrastructure Development Project,” the government has inked a financing agreement with the Asian Infrastructure Investment Bank (AIIB) for US$109.78 million, 29.42 million EUR, and 132.49 million RMB.
On December 10, Rajat Misra, acting vice-president for Investment Clients Region I and Financial Institutions and Funds, Global (VP IC1), and Mirana Mahrukh, Additional Secretary of Economic Relations Division, respectively, signed the deal on behalf of the nation and the AlIB.
According to an ERD press statement issued here today, SM Zafrul Hasan, Chief Engineer (Additional Charge), Power Grid Bangladesh PLC, signed the Project Agreement on behalf of the implementing agency.
The Power Grid Bangladesh PLC, a division of the Bangladeshi Power Division, has taken on this project.
Enhancing the capacity and dependability of the power transmission network in Bangladesh’s Southern Chattogram and Kaliakoir regions is the project’s primary goal.
The loan will be obtained on the regular AlIB terms and conditions. The loan has a 32-year maturity period, which includes a 7-year grace period.
Here is the loan interest rate: a) USD: SOFR + Variable Spread c) EUR: Variable Spread + 6-Month EURIBOR c) RMB: Variable Spread + 3-Month SHIBOR. Furthermore, the Commitment Fee is 0.25 percent of the total amount that will be paid, and the Front End Fee is 0.25 percent of the loan amount (one-time).
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