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August 11, 2000 

Dhaka (UNB) - Bangladesh will receive Tk 100 crore from Germany for implementation of various projects under an agreement signed here yesterday (Thursday).

German Ambassador Uwe Schramm and Economic Relation Division (ERD) Secretary Dr AKM Masihur Rahman signed the agreement on behalf of their respective governments.

The agreement was signed following the commitment made by German government at the end of last year. The grants will be available without any repayment obligation.

The funds have been earmarked for direct support to the power and infrastructure sector of Bangladesh, the key areas of German-Bangladesh development cooperation.

Both the governments agreed that this support will be used for the rehabilitation of Ashuganj Power Plant and procurement of a dredger for Chittagong Port.

The assistance will also be used for a new electricity supply pilot project aimed at reducing system losses by introducing pre-paid metering, said a press release.