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ADB to provide $357m to develop power transmission lines

MNA Business Desk: The Asian Development Bank’s (ADB) Board of Directors has approved an assistance package totalling more than $357 million for a project to develop two power lines in support of Bangladesh’s national target of electricity for all by 2021.

The investments comprise a $350 million ADB loan, a $7 million grant from the Japan Fund for the Joint Crediting Mechanism (JFJCM) to partially finance new high-technology energy efficient conductors, and a $500,000 grant from the Republic of Korea e-Asia and Knowledge Partnership Fund (EAKPF) to promote socially inclusive growth with gender equality said an ADB press release on Tuesday.

The release said a top priority of the government is to address infrastructure deficiencies, including modern and affordable energy services, which face recurring shortages and ever-rising demand, reported news agency.

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