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EU approves EUR 118m grants for Bangladesh

Grants worth EUR 118 million (11 Crore 80 Lac Taka) has been announced by the European Union for Bangladesh. The grants have been allocated for for Civil Society Participation in Decision Making, Food and Nutrition Security, and Skills Development. Three programs have been adopted under the grants which are Platforms for Dialogue Project – Strengthening Inclusion and Participation in Decision Making and Accountability Mechanisms euin Bangladesh, Food and Nutrition Security program for Bangladesh 2015 and Skills 21 – Empowering citizens for inclusive and sustaina...

ADB to help develop regional transport projects

Bangladesh will receive a $30 million loan from the Asian Development Bank (ADB) to help develop transport corridors to stimulate trade in the region, a senior official said on Friday. adb1Senior finance ministry official Mohammad Mejbahuddin and Kazuhiko Higuchi, Bangladesh country director for the Manila-based ADB, signed the agreement in Dhaka. "The assistance will be used to undertake technical studies and to prepare designs for future investments in large infrastructure projects in railways and roads sectors," Mejbahuddin told Reuters. “The assistance...

Offshore Taka bond program, IFC to strength capital markets

IFC, a member of the World Bank Group, announced on October 11 that it has received an approval from Bangladesh’s Ministry of Finance for the first ever offshore Taka bond program. The $1 billion-equivalent bond program aims to strengthen capital markets and increase foreign investment in Bangladesh. Under the program, IFC will issue the first Taka-linked bonds in the offshore market and bring IFCthe proceeds back to finance investment in Bangladesh. The bonds will be listed on the London Stock Exchange, according to IFC. “Domestic capital markets are critica...

ADB to lend $ 45m for water resource project

The Asian Development Bank (ADB) is part-funding expansion of a water resources project in southwest Bangladesh that has sharply increased agriculture production and benefited nearly 200,000 people, it said on Tuesday.
ADB is providing a $45 million loan and the government of the Netherlands is expected to give a grant of $7 million. Both provided initial funding for the scheme, which was approved in 2005. [caption id="attachment_20187" align="alignleft" width="540"]A farmer carries a stack of jute to be dried in Manikga... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

ADB to help finance India-Bangladesh power link

The Asian Development Bank (ADB) is to help finance a project to increase transmission capacity of an India-Bangladesh power link to allow Bangladesh to better meet sharply rising power demand. ADB’s $120 million loan to Bangladesh will double the capacity of the existing interconnector which links the power grid of western Bangladesh at Bheramara and the grid of eastern India at Bharampur. adb1The two networks were first interconnected in 2013, under a previous project financed by ADB. New transmission capacity will rise from 500 megawatts (MW) to 1,000 MW,...

WB pledges strong support for BD’s development

World Bank (WB) Vice President for the South Asia Region, Annette Dixon, has pledged strong support for the development of Bangladesh. Dixon praised Monday Bangladesh’s progress in poverty reduction and economic development during her second visit to the country in her current role, Xinghua reported. “The World Bank will continue to support Bangladesh in areas necessary to move up within middle income country status. Bangladesh will need sustained reform efforts for further wbadvancement,” said Dixon. The World Bank classified Bangladesh as a lower-middle cou...
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