JBIC concluded a buyer's credit agreement with the Bangladesh Power Development Board (BPDB). The loan is intended to provide financing for BPDB to purchase a complete set of facilities, including gas turbines (MITSUBISHI HITACHI POWER SYSTEMS, LTD.) and steam turbines (FUJI ELECTRIC CO., LTD.) from Marubeni Corporation for the construction of a new 400 MW gas-fired combined cycle power plant in the northeast of Bangladesh.
Despite growing demand for electricity in Bangladesh due to steady economic growth, the power supply has not caught up with this demand, and the country has been experiencing a chronic power shortage. Given these circumstances, the Bangladesh government has been promoting the enhancements of power supply under its Power System Master Plan. This loan is expected to support Bangladesh's economic development by realizing steady power supply, and, at the same time, contribute to maintaining and strengthening the international competitiveness of Japanese industries through financial support for the export of infrastructure-related facilities.