Infrastructure Development Company Limited (IDCOL), a government owned development financial institution involved in private sector energy and infrastructure financing in Bangladesh, has recentlyavailedits third credit line from the Asian Development Bank (ADB). A signing ceremony in this regard took place on 19 November 2017 among the Economic Relations Division (ERD) of the Ministry of Finance, ADB and IDCOL.
The credit line, known as PPIDF 3, will give IDCOL access to USD 260 million long term financing which will be on-lent to eligible private sector energy and infrastructure projects in Bangladesh. Notably, IDCOL previously availed two credit lines from ADB – USD 165 million under PPIDF 1 and USD 110 million under PPIDF 2, which were used to finance a number of power, ICT, port and renewable energy projects.
Kazi Shofiqul Azam, Secretary, Economic Relations Division, Manmohan Parkash, Country Director ADB Bangladesh, Mahmood Malik, Executive Director and CEO, IDCOL with other Officials Attended the ceremony.