ADB to give Bangladesh $167 million loan to improve gas production efficiency

The ADB said in proclamation on Monday that the Asian Framework Speculation Bank (AIIB) is required to loan an extra $60 million, which is liable to board endorsement and will be overseen by ADB.It is the second venture to be co-financed by ADB and AIIB.

The ADB said the reserve will be utilized to introduce wellhead gas compressors to increment pumping weight and guarantee enduring extraction at the Titas gas field.

The venture will likewise help gas transmission by building 181 kilometers of transmission pipeline from Chittagong to Bakhrabad southeast of Dhaka.

The announcement cited ADB South Asia's Fund Master (Vitality) Hongwei Zhang saying, "By tending to gas supply imperatives and transmission bottlenecks, the venture will build the vitality segment's commitment to feasible financial development in Bangladesh."