The Asian Development Bank (ADB) is lending $2.43 billion to Bangladesh under a project titled Muktagacha Solartech Energy Limited (MSEL) to set up a grid-connected solar photovoltaic power plant in Mymensingh. The amount of this money in Bangladeshi currency is 291 crore 60 lakh taka (120 taka per dollar).
This information was informed in a circular sent from ADB's Dhaka office on Monday (December 2).
According to ADB, this money will be spent under the MSEL project in Mymensingh, Bangladesh. Their board has approved the financial assistance in this regard.
As the sole mandated lead arranger, ADB arranged, structured and syndicated the financing package for MSL, which is owned by Bangladesh-based energy company Jules Power Limited (GPL), ADB said. It includes a 15.5 million loan from ADB and an 8.8 million loan from Leading Asia's Private Infrastructure Fund 2 managed through ADB.
