ADB signs $277.7 million for Bangladeshi homes and hill-tract villages’ power

Bangladesh and the Asian Development Bank signed loan and grant agreements totaling $277.7 million this week. A $100 million concessional loan will expand housing microfinance for low- and middle-income families through the Palli Karma-Sahayak Foundation — supporting women’s empowerment and homes built to withstand storms. Another $175 million loan plus a $2.72 million grant will bring reliable electricity to remote, underserved villages in the Chittagong Hill Tracts through expanded and modernized power lines. Both loans carry 2% annual interest over 25 years, with five years before repayments begin.