Kabir Humayun: The government has signed agreements with the Asian Development Bank (ADB) for US$500 million loan to develop a state-of-the-art 800-megawatt (MW) power plant in Khulna.
Muhammad Alkama  Siddiqui, additional secretary of the Economic Relations Division (ERD) under Finance Ministry and Manmohan Parkash, country director of the ADB, signed the deals yesterday on behalf of their respective sides, at a ceremony in the capital city, reports Financial Express.According to the ADB, the fund will also be used for power transmission facilities along with associated connections to natural gas.The total cost of the project is $1.14 billion, with the Islamic Development Bank contributing $300 million in co-financing and the government contributing $338.5 million.The project is scheduled to be completed by the end of June 2022, the ADB added.