PNP Khabar

ADB clears $583 million loan for R-Power’s Bangla project

Puja Baniya Business

The Asian Development Bank (ADB) has extended a $583 million (Rs 3,748 crore) loan with partial risk guarantee for Reliance Power's 750 MW power project along with a liquid gas import terminal being built in Bangladesh at a total investment of $1billion.

"ADB's role as a direct lender and guarantee provider will enable Reliance Power to mobilise long-term debt financing and help attract new lenders to Bangladesh," Michael Barrow, director-general of ADB's private sector operations department, said on Tuesday.

According to him, ADB's partnership with Reliance Power will help Bangladesh "scale up its energy infrastructure to sustain and support the country's economic growth." Reliance Power said the new liquid gas import terminal will enable the country's existing gas infrastructure to remain viable and allow the country to access natural gas from global markets.

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