The Asian Development Bank (ADB) is extending a $300 million energy infrastructure loan to help Bangladesh address critical power shortages that are undermining the economy and slowing poverty reduction efforts.

The ADB's Board of Directors has approved the loan for the Power System Efficiency Improvement Project, which will help meet Bangladesh's need for more energy-efficient generating plants and greater use of renewable power sources.

An agreement to this effect will be signed at the Economic Relations Division (ERD) at Shere-e-Bangla Nagar in Dhaka tomorrow between the Bangladesh government and the ADB, an ADB spokesman told the news agency yesterday.

ERD Secretary Iqbal Mahmud and country director of the ADB Thevakumar Kandiah will sign the agreement on behalf of their respective sides.

In a statement, ADB said aging thermal plants, inadequate natural gas supplies and lack of diverse power sources have left the country with a large gap between electricity supply and demand, estimated at over 1,200 megawatts for 2011.

Only 49 percent of people have access to electricity, and frequent shortages and unreliable supplies have perpetuated underdevelopment with nearly half the population living below the extreme poverty line of $1.25 a day.

The Daily Star/Bangladesh/ 3rd Jan 2012

National Bank Limited has opened its 153rd branch at Muktagacha in Mymensingh yesterday.

Neaz Ahmed, managing director and CEO of the Bank, formally inaugurated the branch as chief guest while AKM Shafiqur Rahman, deputy managing director and company secretary of the Bank, presided over the inaugural function, said a press release.

AKM Salah Uddin Khan, AVP and manager of Mymensingh branch, delivered the welcome address at the function while Pradip Roy Chowdhury, manager of Muktagachha branch, gave vote of thanks.

The Daily Sun/Bangladesh/ 30th Dec 2011

SM Abu Mohsin, director of NCC Bank, seen inaugurating a branch at Boalkhali, Chittagong on Wednesday. Chairman of the Bank Md Nurun Newaz Salim and managing director Mohammed Nurul Amin are also seen.

NCC Bank Limited opened its 87th branch with online facility at Boalkhali, Chittagong on Wednesday.

Director of the Bank SM Abu Mohsin formally inaugurated the branch as chief guest while chairman of the Bank Md Nurun Newaz Salim presided over the function, said a press release.

Managing director Mohammed Nurul Amin, deputy managing director Swapan Kumar Das, upazila nirbahi officer Dilshad Begum, senior executives of the bank, local elites, businessmen and clients were present on the occasion.

The Daily Sun/Bangladesh/ 30th Dec 2011

Sheikh Abdul Hye Bachchu, ex-MP and chairman of BASIC Bank, inaugurates a branch in Faridpur district town yesterday.

BASIC Bank Limited has opened its 45th branch in Faridpur district town yesterday.

Sheikh Abdul Hye Bachchu, ex-MP and chairman of BASIC Bank, inaugurated the branch as chief guest. Prof Dr Kazi Akhter Hossain and Md Anwarul Islam, members of the board of directors of the bank, also attended the function as special guests, said a press release.

Kazi Fakhrul Islam, managing director, Sheikh Monjur Morshed, AMD of the Bank, Abul Hossain, managing director of AH Group, Kh. Mohtesum Babor, industrialist and politician and a large number of local elites and businessmen among others were present at the function.

Sheikh Abdul Hye Bachchu in his inaugural speech said the clients of BASIC Bank feel safe as it is a state-owned Bank.

The Bank’s classified loan ratio is less than 5 percent which is a remarkable achievement, he added.
He further said the ratio of agriculture loan and SME loan maintained by the Bank is in satisfactory level while the Bank encourages women entrepreneurs through providing SME loan.

The Daily Sun/Bangladesh/ 30th Dec 2011

Eastern Bank Limited (EBL) provided a large number of blankets to Dhaka Metropolitan Police (DMP) for distributing among the poor cold-hit people across the country.

Ali Reza Iftekhar, managing director and CEO of the Bank, formally handed over the consignment to Benazir Ahmed, commissioner of DMP at a function held at the DMP Head Office yesterday, said a press release.

M Fakhrul Alam, deputy managing director of EBL, Ziaul Karim, head of brand and marketing, Irfan Islam, senior manager of brand and marketing, Khurrom Alamgir, senior manager and senior officials of DMP were present on the occasion.

The Daily Sun/Bangladesh/ 30th Dec 2011