Bangladesh: Public-Private Infrastructure Development Facility (Supplement)

Sovereign Project | 40517-042 Status:

Summary

Latest Project Documents

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Project Name Public-Private Infrastructure Development Facility (Supplement)
Project Number 40517-042
Country Bangladesh
Project Status
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 0253-BAN: Public-Private Infrastructure Development Facility (Supplement)
Climate Change Fund US$ 1.30 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Sector / Subsector

Energy - Renewable energy generation - biomass and waste - Renewable energy generation - wind

Gender Equity and Mainstreaming No gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome Project implementation completed. Liquidation application for Grant 0253 under processing. Grant account is expected to be closed in May 2015.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

Bangladesh has been assigned B3 rating on April 2011 by Moody's Investors Service and BB- by Standard & Poor's (S&P). As per the ratings, the macroeconomic fundamentals of the country are better and it has less chance to face severe stress on creditworthiness. Given the current creditworthiness of the country continues to improve, the borrowing costs of IDCOL is expected to reduce in future.

As per lending policy of IDCOL, maximum tenor is 15 years

IDCOL will consider issuance of debt instruments in future;

IDCOL has raised financing for few medium and large infrastructure projects.

ADB approved 3 subProjects as follows:

(i) 108 MW power projct of $93 million (ADB share $30 million) to ECPV Chittagong Limited. (ii) 108 MW power project costing $84.2 million with ADB share of $30 million to Regent Energy and Power Limited.

(iii) 335 MW HFO based power plant of Summit Meghnaghat Power Company Limited, Narayanganj. Estimated project cost is $287 million of which ADB share is $22 million.

IDCOL has obtained AA1 rating in 2012. The rating was valid till December 2014.

IDCOL will consider obtaining credit rating from an internationally accepted agency once it intends to raise additional fund from international market. At present, there is no or little appetite for foreign currency loan on commercial terms.

ESSF has been updated and posted on IDCOL's website since 2012.

IDCOL in assistance with ADB undertook a capacity development initiative for its officials and ESSF team under which a team of 3 environmental and 1 social consultants financed under TA 7143-BAN provided training to IDCOL officials.

IDCOL has already adopted ESSF in conducting its environmental and social assessment of infrastructure and renewable energy projects.

So far, IDCOL has obtained environmental and social clearances from ADB for five projects i.e. NTTN, WiMAX, and 108 MW power plant of ECPVCL, 108 MW power plan of Regent Energy and Power Ltd., and 335 MW power plant to Summit Meghnaghat Power Plant Ltd.

IDCOL is committed to achieve ADB standard regarding environmental and social due diligence.

The processing time, among other things, depends on the type of projects, scopes of social and environmental appraisal. Average processing time of IDCOL seems to have improved. However, the response time of IDCOL has improved. IDCOL expects to improve its response time further.

Geographical Location Dhaka

Summary of Environmental and Social Aspects

Environmental Aspects No significant environmental impact is experienced.
Involuntary Resettlement Subprojects and bio-gas plants has no involuntary resettlement.
Indigenous Peoples There was no impact on indigenous peoples.
Stakeholder Communication, Participation, and Consultation
During Project Design All stakeholders, including Bangladesh Bank, IDCOL, Ministry of Finance was discussed.
During Project Implementation Implementation arrangements for the Project under the proposed supplementary grant, including project management; ADB's Anticorruption Policy (1998, as amended to date); disbursement arrangements; accounting, auditing and reporting; and project review remain the same as those for the original loan. In addition, 2 imprest accounts were opened to administer the disbursements of the ACEF and CCF grants.

Business Opportunities

Consulting Services tbd
Procurement tbd

Responsible Staff

Responsible ADB Officer Bidyut Saha
Responsible ADB Department South Asia Department
Responsible ADB Division Bangladesh Resident Mission
Executing Agencies
Ministry of Finance
Economic Relations Division (ERD), MOF
Sher-e-Bangla Nagar, Dhaka_1207
Bangladesh

Timetable

Concept Clearance -
Fact Finding -
MRM -
Approval -
Last Review Mission -
Last PDS Update 17 Sep 2015

Grant 0253-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
17 May 2011 29 Jun 2011 07 Dec 2011 30 Jun 2014 31 Dec 2014 01 Oct 2015
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 1.30 Cumulative Contract Awards
ADB 1.30 17 May 2011 1.30 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 17 May 2011 1.30 0.00 100%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Grant 0254-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
17 May 2011 29 Jun 2011 07 Dec 2011 30 Jun 2014 - 21 Jul 2014
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 0.00 Cumulative Contract Awards
ADB 0.00 17 May 2011 0.00 2.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 17 May 2011 0.00 2.00 100%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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