Saudi Arabia to invest $1.4 bn in Bangladesh's energy sector
Saudi Arabia's International Islamic Trade Finance Corporation (ITFC), has signed a $1.4 billion financing plan with the Government of Bangladesh.
Officials of ITFC and Bangladesh Petroleum Corporation (BPC), the state-owned fuel oil import and marketing authority, were present at the signing ceremony.
According to ITFC, the plan will enable the Bangladesh Petroleum Corporation (BPC) to import petroleum products. The ITFC also said the financing aimed at developing Bangladesh's energy infrastructure to develop the country.
Meanwhile, The Saudi Press Agency (SPA) said that this money will be invested in various sectors related to the development of the energy sector of Bangladesh.The signing ceremony took place during a official visit by a high-level delegation from Bangladesh to the ITFC headquarters.
Comments