DHAKA, Dec. 12 (Xinhua) -- The Bangladeshi interim government here on Thursday signed a loan agreement with the Asian Development Bank (ADB) for 100 million U.S. dollars for an infrastructure development project.
Md Shahriar Kader Siddiky, secretary of Bangladesh's Economic Relations Division, and Hoe Yun Jeong, ADB's country director for Bangladesh, signed the agreement on behalf of their respective sides.
The Bangladesh Infrastructure Finance Fund Limited (BIFFL) Project, with an implementation period from 2024 to 2029, aims to catalyze commercial financing for public-private partnership projects in infrastructure development.
Bangladesh's Finance Division will act as the executing agency of the project while BIFFL will serve as the implementing agency, according to a press release.
The release said this loan from ADB has been received as ordinary capital resources and will be repaid over 25 years with a five-year grace period.
Meanwhile, ADB announced on Wednesday that it has approved a loan of 600 million dollars to Bangladesh to strengthen the country's domestic asset management, public investment efficiency, and structural reform activities to develop the private sector. ■
