IPFF Project financed USD 20 Million

DHAKA, Oct. 31 (Xinhua) — IPFF disbursed 20 million USD from its on-lending component to M/S Baraka Patenga Power Limited at Patenga in Chittagong through its PFIs United Commercial Bank Limited (USD 14.04 million) and Trust Bank Limited (USD 5.87 million). In its 2nd 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 minimize 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. Source: Bangladesh Bank statement