Bangladesh to get $63 mn loan from Kuwait

The loan aims to help Dhaka in a power project and to achieve food security.

Dhaka: Bangladesh will receive USD 63 million in loan from Kuwait for help in a power project and to achieve food security in the country, a statement said.

The Kuwait Fund for Arab Economic Development (KFAED) approved the loan on Sunday under an agreement signed in Dhaka between itself and the Economic Relations Division of Bangladesh`s Finance Ministry, Xinhua reported citing a ministry release.

Under the agreement, an amount of USD 10 million has been given from Kuwait`s Goodwill Fund for the Promotion of Food Security in Islamic Countries to assist Bangladesh achieve food security.
Another USD 53 million would help finance the Shikalbaha 225 MW Combined Cycle Power Plant project under the Bangladeshi Power Development Board.