CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
Siemens to build Bangladesh’s largest power plant
Bangladesh has signed a deal with Siemens of Germany to build a $2.8 billion LNG-based power plant. The groundbreaking deal was signed on Sunday to install a 3,600-megawatt plant in the southern district of Patuakhali’s Payra, the largest in Bangladesh. This will be the largest investment in Bangladesh from an European country.
World Bank providing low-cost funds for Bangladeshi entrepreneurs
A new credit from the World Bank would allow Bangladeshi entrepreneurs to avail low-cost funds for up to 20 years to thrive in the power, energy and bridges sectors. Bangladesh government signed two agreements with the Bank worth $457 million for the funding project. The project will help develop private sector-led infrastructure initiatives in sectors such as power and energy, ICT, land ports, roads, and bridges.
Bangladesh to borrow $700m from ITFC to import fuel oils
Bangladesh Petroleum Corporation (BPC) is set to borrow US$ 700 million from International Islamic Trade Finance Corporation (ITFC) to import fuel oils to keep its fuel import and supply uninterrupted across the country. The tenure of the loan will be six months from the date of corresponding disbursement with the rate of interest at 3.8 per cent annually. BPC has asked for the finance ministry’s approval on the loan.
