For the project to help expand access to clean energy in Bangladesh, International Finance Corporation or IFC will provide $10.8 million in equity investment and Excelerate’s equity will amount to $43.1 million. IFC and Excelerate Energy, which will implement the project on Maheshkhali Island in Cox's Bazar, signed the agreement on Tuesday. As the lead arranger for the project, IFC has raised a debt financing package of $125.7 million, including IFC’s loan of $32.8 million, $25 million from CDC, $15 million from DEG, $20 million from FMO and the rest from JICA. In July 2016, Bangladesh signed a deal with Excelerate to construct a 500mmcfd floating LNG (liquefied natural gas) terminal. Describing the LNG terminal as a 'milestone', PM's Energy Adviser Chowdhury said the government will provide all cooperation for the project.

Source: bd News24 July 12, 2017 09:45 UTC