The Asian Development Bank (ADB) said it had approved a $230 million loan to Bangladesh to expand its natural gas infrastructure and delivery system.
The money would be used to build two pipelines - a 353 km (219 mile) line to supply 360 million cubic feet (mmcf) of natural gas to the country's west and a 320 km (199 mile) line to serve a northern region, the Manila-based bank said in a statement issued late on Friday. The loan is refundable in 20 years, including a five year grace period, with up to 1.5 percent in annual service charges, the ADB said.
Bangladesh has 15.3 trillion cubic feet of proven and recoverable gas reserves but the country's north-west districts are largely deprived. The country plans to invest $3 billion in exploration and distribution of gas by 2020, energy officials said.
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