Brussels, 22/11/2013 (Agence Europe) - The European Investment Bank (EIB) announced on Wednesday 20 November, its decision to grant a €82 million loan to the government of Bangladesh to support more efficient power generation in the country and reductions in greenhouse gas emissions. The main aim of the loan is to contribute to climate change mitigation.
The project is part of a wider investment programme in the energy sector with an estimated total cost of US$ 1.6 billion, whose objective is to facilitate the expansion of power generation, transmission and distribution as well as capacity-building in the country. The EIB loan will serve to finance two specific projects under the programme: the conversion of gas-fired plants in Baghabari and Shagibacar to combined-cycle plants. Conversion will lead to efficiency improvements by way of 75% and an increase in generation capacity of around 50% without any rise in the amount of fuel used. (OL/transl.jl)