Bangladesh is about to seek $26 billion for 21 different projects of the country’s power sector from China during the upcoming visit of the Chinese president Xi Jinping.
Power division has formally submitted its requisition paper addressing that amount of funding to the Economic Relations Division (ERD).
Recently in an inter-ministry meeting chaired by ERD additional secretary Abul Monsur Mohammad Fayjulla, the Power division has proposed the name and funding needed for that 21 projects. Sources from ERD confirmed that the prime minister’s office will ultimately sort list the loan seeking projects. After that, the finalized list will be sent to the Exim Bank of China and then the Bank will decide where to give credit.
However, the authority has already asked for $23 billion for 20 different projects to the Exim Bank of China; and as of now, the Bank has not replied with any positivity on giving credit for any of the projects. Yet, ERD officials are hopeful to get some positive news before the Chinese President arrives the country.
The Power division is especially looking forward getting the largest credit valuing around $2 billion for the Matarbari 1,320MW power plant project. The deal is already finalized and only awaiting a final signing in presence of the state’s representatives of both the partner countries.
According to the new list of the Power division, it includes projects like, ‘System loss reduction by replacing five million electromechanical energy meter with electronic energy meter project’, which worth $166 million, ‘Expansion and strengthening of power system network under DPDC area project’ valuing $2.03 billion, ‘Power grid network strengthening project under PGCB’ valuing $1.32 billion, 360 MW Mymensing duel fuel combined cycle power plant having a seeking budget of BDT 33.79.