IPFF disburses US$ 20mn for power project

IPFF disburses US$ 20mn for power project

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Investment Promotion and Financing Facility (IPFF) has disbursed US$ 20 million from its on-lending component to M/S Baraka Patenga Power Limited at Patenga in Chittagong. The disbursement was made through United Commercial Bank Limited US$ 14.04 million and Trust Bank Limited (US$ 5.87 million) on Wednesday. In its second phase of operation, this is the largest amount of money that it could disburse to a HFO (Heavy Fuel Oil) based power plant incorporating a FGD (Flu Gas Desulphurization) equipment to minimise environmental pollution. It will add 50 MW power to the national grid in addition to 178 MW, financed from IPFF facility loan in its first phase. This is the first US Dollar Financing from IPFF. IPFF is a project financed by the World Bank and Government of Bangladesh and implemented by Bangladesh Bank on behalf of Finance Division under Ministry of Finance. – UNB

 

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