China borrows from BRICS Bank; Bangladesh to drop China from 5 projects
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The BRICS New Development Bank (NDB) has announced that it approved 7 billion yuan (about 1.08 billion U.S. dollars) of emergency assistance program loans to support China s economic recovery from COVID-19.
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The loan is the second emergency loan approved by the NDB to help China fight the epidemic
Chinese economy which reportedly grew at a healthy rate last year despite Covid is facing headwinds. It has borrowed from the BRICS Bank and Bangladesh has decided to drop projects that China was earlier earmarked to support via loans.
Reliance, Jera Achieve Financial Closure for Bangladesh CCGT
Mar 5, 2021 3:09:am
Summary The project is to build, own and operate a 750-MW combined-cycle gas turbine (CCGT) power plant at Meghnaghat near Dhaka.
by: Shardul Sharma
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Reliance, Jera Achieve Financial Closure for Bangladesh CCGT
India’s Reliance Power and Japan’s Jera have achieved financial closure for their proposed gas-fired power generation project in Bangladesh, the Indian company said on March 4.
The Reliance-Jera joint venture has achieved financial closure for the project with a group of lenders that includes Japan Bank for International Cooperation and Asian Development Bank and all requisite conditions for availing drawdown under the loan agreements have been satisfied, the company said.
Reliance Power-JERA JV achieves financial closure for 745 megawatts-Bangladesh unit
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In 2019, Reliance Power announced a debt-restructuring deal with US Exim Bank for its Samalkot project in Andhra Pradesh, which was rendered defunct due to lack of gas supply to it. The company decided to relocate the equipment from the project to Bangladesh and subsequently, inducted the Japanese utility as a partner for developing the 750 mw-gas based combined cycle power project.
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Anil Ambani-led
Reliance Power said Thursday that the company, along with partner JERA of Japan, has achieved financial closure for its 745 megawatts (mw) Bangladesh unit by tying up funds with a group of lenders that includes Japan Bank for International Cooperation (JBIC) and Asian Development Bank (ADB).
$3 6b Chinese loan uncertain after Dhaka drops projects from agreed list thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
Beximco stocks fall despite Tk3,000cr Sukuk plan Star Business Report Star Business Report
Stocks of Beximco Limited dropped 1.64 per cent to Tk 84 yesterday despite the company s announcement that it would issue Sukuk bonds worth Tk 3,000 crore.
The listed multinational conglomerate informed its investors about the bond through a disclosure published on the website of Dhaka Stock Exchange (DSE).
Beximco will issue the bonds in order to finance solar projects and expand its textile factory.
DSEX, the benchmark index of the country s premier bourse, was also reluctant to move following the announcement as it dropped 20 points, or 0.36 per cent, to stand at 5,488.