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The World Bank (WB) would provide US$30 million additional loan to improve Bangladesh's power transmission lines in the eastern zones.
The Washington-based lender and the Economic Relations Division (ERD) on Thursday signed a loan agreement to this effect in Dhaka.
ERD Secretary Shahriar Kader Siddiki and Acting Country Director of the Bank Mr Gayle Martin signed the loan deal.
The Bank will provide the loan from its scale-up facility (SUF) fund. It will charge 2.0 per cent interest rate. The maturity of the loan is 30 years with five years grace period.
Under the "Enhancement and strengthening of power transmission network in eastern region project", the Power Grid Company, Bangladesh (PGCB) will upgrade the electricity transmission line in greater Comilla, Chittagong and Noakhali districts.
With the support of the WB, the PGCB is implementing the project from 2018 which is scheduled to be completed in June this year.
Earlier, the global lender has confirmed $450.64 million worth of loans in 2018 for completing the project.
Out of the total commitment, the Bank diverted $50 million funds to other projects during the Covid-19 period.
The PGCB recently sought the additional funds from the WB for completing the unfinished works under the ongoing project, said an ERD official.
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