The Asian Development Bank (ADB) has granted a $30m loan to improve the Pabna and Meghna-Dhonagoda irrigation facilities and boost fish output. The highly concessional loan has a grace period of ten years, a repayment term of 40 years and an annual service charge of 1%. It will cover 60% of the total project cost, and 300,000 people are expected to benefit from the improvement.
--and $18.5m to a cement plant
In December the ADB announced a $18.5m loan to a private-sector firm, Islam Cement, and a $4m investment in equity. The funds are to be used to build the country's largest cement plant, with a 600,000-ton capacity, sited in Sylhet district. Currently 80% of cement has to be imported and domestic production is concentrated in the public sector.