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Dhaka Tribune

AIIB plans $540m in loans for infrastructure, power projects in Bangladesh

The bank is considering the loans for the Mymensingh Kewtkhali Bridge Project, the Sylhet-Tamabil road Upgrade Project, and the Power System Upgrade and Expansion Project in the Chittagong region

Update : 27 Sep 2018, 10:20 PM

The Asian Infrastructure Investment Bank (AIIB) plans to provide $541 million in loans for three infrastructure and power projects in Bangladesh. 

AIIB Head of Communications and Development, Laurel Ostfield, told BSS through an email that the bank is considering the loans for the Mymensingh Kewtkhali Bridge Project, the Sylhet-Tamabil road Upgrade Project, and the Power System Upgrade and Expansion Project in the Chittagong region.

“The construction of the Mymensingh Kewtkhali Bridge will reduce traffic and travel time in the region, while the Sylhet-Tamabil Road Upgrade Project would improve cross-border connectivity between Bangladesh and India via a safe and efficient road link between Sylhet and Tamabil,” she said.

“The Power System Upgrade and Expansion Project will increase the capacity of the transmission network in Chittagong, allowing new consumers to be connected to the grid and reducing load shedding.”

The Mymensingh Kewatkhali Bridge is part of the Dhaka-Mymensingh-India border corridor. The project is an attempt to ease traffic congestion in Mymensingh city by diverting traffic away from its busy central area.

Of the project’s preliminary estimated cost of $235.1 million, a total of $152.6 million will come from the AIIB loan with the government set to cover the remaining $82.5 million, which will be used for land acquisition.

The proposed Sylhet-Tamabil Road Upgrade Project will cost an estimated $435 million, with $268 million coming from AIIB and the government providing $167 million for land acquisition.

Under the proposed Power System Upgrade and Expansion Project, 46km of 400kV and 230kV double-circuit transmission lines will be constructed to connect three substations at Anowara, New Mooring and Khulsi in the Chittagong region.

The transmission lines and associated substations or bays will collectively provide 1,640 megavoltampere (MVA) transmission capacities at different voltage levels.

The project cost is estimated at about $177.5 million, of which $120 million will be provided by the AIIB loan. The government will contribute $46.4 million, and the Power Grid Company of Bangladesh (PGCB) will provide the remaining $11.1 million.

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