Under SASEC Program ADB assure $120 m loan to finance India and Bangladesh electricity link [ Current Affairs ]
Under SASEC Programme 120 million dollar loan provided by The Asian Development Bank (ADB) in order to finance cross - border electricity link between Bangladesh and India. Regarding this the loan agreement was signed by ADB Country Director Kazuhiko Higuchi and Senior Secretary of Bangladesh Finance Ministry Mohammad Mejbahuddin.
- Under the ambitious South Asia Sub - regional Economic Co - operation (SASEC) Programme the loan fund would be used for Second Bangladesh - India Grid Inter connectivity project.
- The main aim of SASEC Programme concerns project is to promote regional prosperity through improved cross - border links in trade, power, road and rail links between India and Bangladesh.
- Under The second project it will double the existing capacity from 500 MW to 1000 MW of the inter - connectivity link connecting power grid at Bheramara in western Bangladesh and the grid of eastern India at Bahrampur (Odisha).
- The first project networks were connected in 2013 and also financed by ADB under the SASEC Programme.
About South Asia Subregional Economic Cooperation (SASEC) Program
SASEC was set up in 2001 to bring together Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka in a project - based partnership.
The aim of this partnership is:
- To enhance regional economic cooperation
- Encourage trade among member countries.
- Promote regional growth by improving cross - border connectivity.
- For the people of the sub region build a better quality of life.
After establishment of SASEC, the member countries have implemented over 37 regional projects which gives benefits more than 6.75 billion dollars in the energy, trade facilitation, transport and ICT sectors.
- Published on: November 23, 2015