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Bangladesh signs $129.8m deals with Germany

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Staff writer ▼ | October 8, 2013
Secretary of Economic Relations Division Abul Kalam Azad and German Ambassador to Bangladesh Albrecht Conze signed the two agreements worth Tk10.08bn ($129.8 million) on projects and programmes of Financial and Technical Development Cooperation.
Albrecht Conze
Albrecht ConzeSecretary of Economic Relations Division Abul Kalam Azad and German Ambassador to Bangladesh Albrecht Conze signed the two agreements worth Tk10.08bn ($129.8 million) on projects and programmes of Financial and Technical Development Cooperation.


The agreements on projects and programmes of Financial and Technical Development Cooperation was implemented by the German Development Cooperation Agency GIZ, KfW Development Bank, and the Federal Institute for Geoscience and Natural Resources (BGR), together with their partners in Bangladesh.

According to a press release by the German Embassy, the agreements have an overall financial volume of approximately Tk10.08bn Taka.

Meanwhile, a loan worth Tk4.68bn ($60.26m) will be provided to promote the Western Grid Network Development Project to transport power to the areas in Bangladesh that do not have proper access to energy.

The grant portion of the funds will mainly be used for programmes and projects in the field of urban governance, social and environmental standards in industry, Overcrowding in prisons, justice reform and corruption prevention, for the health sector, and for projects to increase energy efficiency and the use of renewable energy.


 

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