Germany to give €120m for power distribution modernisation project
The project is likely to increase energy efficiency and reduce losses to achieve a reduction in greenhouse gas emissions
Germany will provide €120 million in loan to assist Bangladesh in modernising the distribution grid infrastructure to contribute to a safer and stable electricity supply in the country, in continuation of development cooperation between the two countries.
A loan agreement on the "Modernisation of Power Distribution-Smart Grids Phase I" was signed between the Economic Relations Division, Ministry of Finance, Bangladesh, and KfW Development Bank, as a representative of the German Development Cooperation, on Monday, reads a press release.
Fatima Yasmin, Secretary, Economic Relations Divisions, Carolin Gassner, Director South Asia, KfW Development Bank and Anirban Kundu, Director, KfW Bangladesh, have signed the agreement on behalf of their respective organisations.
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The Bangladesh Rural Electrification Board and the West Zone Power Distribution Co Ltd will implement the project.
Germany has been providing financial and technical assistance for the socio-economic development in Bangladesh since 1972.
Japan to provide 500m Japanese Yen in primary education development
Japan will provide 500 million Japanese Yen (approximately Tk38.93 crore) as a grant to implement "The Fourth Primary Education Development Programme (PEDP-4)" project in the third phase.
Fatima Yasmin, Secretary, Economic Relations Division (ERD), Ministry of Finance, signed the exchange of notes and the grant agreement on behalf of Bangladesh on Monday.
Ito Naoki, Ambassador of Japan in Bangladesh, has signed the exchange of notes while Yuho Hayakawa, Chief Representative, JICA Bangladesh Office, has signed the grant agreement on behalf of Japan on Monday, reads a press release.
The PEDP-4 is being implemented during 2018-2023 by the Ministry of Primary and Mass Education.
Under PEDP-4 the grant will be utilised for curriculum revision and textbook development, teacher education and continuous professional development and fiduciary system and budget.
It is to be noted that Japan has provided 2490 million Japanese Yen (Tk198 crore) as a grant for implementing the PEDP-3 project for 2011-2018.
Starting from 2018, Japan has also provided 1,000 million Japanese Yen (Tk75.65 crore) as a grant for implementing the PEDP-4 in the first and second phases.
Japan is the single-largest bilateral development partner providing financial support for the socio-economic development of Bangladesh. Till June 2021, the support has reached $16.16 billion in Official Development Assistance disbursements.
Japanese loans and grants are being utilised in a wide range of areas including power, roads, bridges, telecommunication, agriculture, health, education, water supply and sanitation, rural development, environment, human resource development, etc.
The Japanese assistance contributed significantly to the overall development of the country.
