AIIB agrees loan to help Bangladesh address power shortages

The Asian Infrastructure Investment Bank has approved a loan of up to $60 million for a project to increase power generation capacity in Bangladesh and help the country respond to power shortages. The approved debt financing will support the development of Bangladesh Bhola IPP, a greenfield 220MW combined cycle power plant in Bhola island, in the Barisal district of Bangladesh. Once complete, the project will increase power generation by around 1,300GW hours annually.