Bangldesh’s PGCB to receive $120 million loan from AIIB

State-owned Power Grid Company of Bangladesh Limited is set to receive a $120 million loan from multilateral financial institution Asian Infrastructure Investment Bank (AIIB) for implementing the Bangladesh Power System Upgrade and Expansion Project. The objective of the $176.6 million project is to strengthen the transmission network in Chittagong to ensure adequate and reliable power supply. It is one of the four power projects that are being funded by AIIB for achieving affordable electricity for all in Bangladesh by 2021.