The World Bank is to contribute additional funds for the completion of a gas-fired power project in Bangladesh.
Under a loan agreement signed this week, the World Bank will contribute $177m to support construction work on the 335 MW Siddhirganj combined cycle plant, located near Dhaka.
The World Bank first allocated $350m to the project in 2008. At the time, the project was planned as a gas turbine plant with a capacity of 300 MW, but the Bangladeshi government later revised its plan to feature a higher-capacity, higher-efficiency combined-cycle plant due to a growing demand for power and ongoing gas shortages.
Martin Rama, the World Bank's acting country director for Bangladesh, was quoted as saying: "This additional financing will add new power generation capacity for Bangladesh and increase efficient use of its domestic gas supplies."
Commercial operation is planned to begin in 2016, with the plant expected to supply around 6 per cent of Bangladesh's power.