€30m loan deal signed for DPDC
Bangladesh yesterday signed an agreement with French development agency Agence Française de Développement to avail a €30 million loan to finance the construction and upgradation of Dhaka Power Distribution Company’s (DPDC) substations.
“It is an extension of an initial €100 million financing provided to the DPDC to construct and modernise 14 electrical substations and associated power lines for distribution network,” says a statement.
Monowar Ahmad, secretary to Economic Relations Division, Jean-Marin SCHUH, French ambassador to Bangladesh, and Jacky Amprou, the agency’s regional director for South Asia, signed the agreement at the former’s office in Dhaka.
It is a parallel co-financing with Asian Development Bank under a Power Efficiency Programme. “This additional financing will cover extra costs related to the purchase and commissioning of new equipment and increased cost of raw materials,” said the statement.
The project as a whole will improve the quality of energy distribution for 241,000 households or 1.1 million people, it said.
The upgrading will allow the DPDC to provide energy with a lower emission factor and reduce the carbon footprint of diesel generators, it added.
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