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Asian Development Bank is lending 103 million dollars to Bangladesh

Sathia Kumar

Asian Development Bank

The Asian Development Bank (ADB) has signed an agreement with the government to lend about $103 million for five development projects in Bangladesh. According to the current exchange rate, the amount in local currency is around 11,500 crores.

The loan agreement was signed between the Economic Relations Department (ERD) and ADB’s Bangladesh office on Tuesday. The agreement was signed by ERD Secretary Shahriar Quader Siddiqui and ADB Country Director Edimon Ginting.

According to a press release of ADB, a loan agreement of 20 million dollars has been signed for a project to install 6.5 lakh smart prepaid meters for residential gas customers. Initially, its work will continue in Dhaka and Narayanganj.

Besides, another loan agreement of 33.65 million dollars has been signed for the establishment of a vaccine production factory of the state-owned company Essential Drug Company in Gopalganj.

300 million dollars for construction of modern highway from Dhaka to northern region under South Asian Sub-Regional Cooperation Program (SASEC) and 100 million dollars for computer and IT education projects of BUET, University of Dhaka and Jessore University of Science and Technology and one for development of water and sanitation system in Chittagong Hill Tracts. A loan agreement of 9 crore dollars has been signed for the project.

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