ADB and Bangladesh between One billion USD loan agreement

Dec Fri 2023 02:30:38

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ADB and Bangladesh between One billion USD loan agreement

Kathmandu A loan agreement worth more than one billion US dollars was signed between the Bangladesh government and the Asian Development Bank (ADB) on Tuesday. The loan will help Bangladesh improve energy efficiency, ensure vaccine supply security, develop clean drinking water and information technology (IT) infrastructure and systems, and upgrade trade corridors.

The Smart Metering Energy Efficiency Improvement Project will support the government's efforts to reduce losses by installing 650,000 smart prepaid gas meters for residential customers. According to the bank, the Vaccine, Therapeutics and Diagnostics Manufacturing and Regulatory Strengthening Project will establish Essential Drugs Company Limited (EDIGL) vaccine, therapeutic and diagnostics manufacturing facility and storage unit at Gopalganj with a capacity of producing 58 million vaccines per 50 million.

In addition to at least five fill-and-finish vaccines, the project will also assist in the production of at least two full-cycle vaccines by developing seed banks, master cell banks and working cell banks. According to the bank, the Chattogram hill area inclusive and flexible urban water supply and sanitation project will build a water treatment plant with a total capacity of 44.4 million liters per day in Bandarwan, Lama and Rangmati cities.

Similarly, a 24 km transmission line will also be constructed. Also, 340 kilometers of new water distribution network will be connected to households. The project will also develop two integrated management facilities for processing and management of manure and solid waste.