ADB Funds $580 Million for Reliance’s Bangladesh Power Plant Project

The Asian Development Bank’s (ADB) Board of Directors has approved debt financing and partial risk guarantees totaling $583 million to develop the Reliance Bangladesh Liquefied Natural Gas (LNG) and Power Project.

The financing package of ADB includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal and the power project, being set up for $1 billion.

Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  • Founded on 19 December 1966 ADB has its Headquarter in Manila, Philippines.
  • President of ADB is Takehiko Nakao.
Source- The Hindu

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