A Loan Agreement on the “Modernization of Power Distribution- Smart Grids Phase I” was signed between Bangladesh and German Bank
IBGNews Bangladesh Correspondent Anowarul Hoque Bhuiyan
Dhaka, 25 October 2021
A Loan Agreement on the “Modernization of Power Distribution- Smart Grids Phase I” was signed on 25th October 2021 between the Economic Relations Division, Ministry of Finance, representing the Government of the People’s Republic of Bangladesh, and KfW Development Bank, as part of the German Development Cooperation.
The “Modernization of Power Distribution- Smart Grids Phase I” is a Euro 120 million project aiming at modernizing the distribution grid infrastructure in order to contribute to a safer and stable electricity supply. The project will increase energy efficiency and reduce losses in order to achieve a reduction of greenhouse gas emissions. The project will be implemented by the Bangladesh Rural Electrification Board and the West Zone Power Distribution Co. Ltd.
Ms. Fatima Yasmin, Secretary, Economic Relations Divisions, Ms. Carolin Gassner, Director South Asia, KfW Development Bank and Mr. Anirban Kundu, Director, KfW Bangladesh signed the Loan Agreement. The signing ceremony was attended by senior officials from the Economic Relations Division and the KfW Development Bank.
Germany has been providing financial and technical assistance for the socio-economic development of Bangladesh since 1972. The present Agreements are a continuation of development cooperation between the two countries.
IBGNews Bangladesh Correspondent Anowarul Hoque Bhuiyan
