DHAKA, March 1 Bangladesh will receive a
$600-million loan from the World Bank in order to improve
electricity supplies to rural areas, in order to reduce poverty
and create jobs, the mulitlateral lender said in a statement on
The loan was approved by the World Bank's board a day
earlier. The credits from the International Development
Association (IDA), the World Bank's concessionary arm, have 40
years to maturity with a 10-year grace period and carry a
service charge of 0.75 percent.
Mohammad Saiful Islam, a director of the Bangladesh Power
Development Board, told Reuters; "The project will contribute to
improving the quality and reliability of power supplies to 25
million people in rural Bangladesh."
Around 80 percent of Bangladesh's 160 million people live in
rural areas. The World Bank estimated that nearly 75 million of
them lacked access to electricity.
(Reporting By Serajul Quadir; Editing by Simon Cameron-Moore)