This support comes via AFD's concessional sovereign loan and will go towards financing a project titled "Construction and Augmentation of Substation and Installation of the Capacitor Bank in Power System under DPDC." The credit facility agreement from the AFD worth 100 million euro was signed recently, said the Embassy of France in a press release on Thursday. Finance Ministry's Economic Relations Division Secretary Fatima Yasmin and AFD Country Director for Bangladesh Benoit Chassatte signed the deal with Jean-Marin Schuh, ambassador of France to Bangladesh, as co-signatory. The additional 12 million euro grant will support for piloting the smart grid project in five substations in Dhaka. The smart grid gives shape to this transformation, by making the grid more effective and efficient.

Source: Dhaka Tribune December 11, 2020 04:18 UTC