Russia clears $11.38 billion for nuclear power plant in Bangladesh

  • News Desk,
    Published: 2016-07-19 16:21:26 BdST

Russia has approved the deal to provide Bangladesh a $11.38 billion loan for the Rooppur nuclear power plant.

RT News reported that the Russian government cleared the deal on Monday.

Bangladesh government will finance the rest of the project, which will cost Tk 12.65 billion to build two plants of 1200 MW each.

On Jun 27, the Bangladesh government gave its go-ahead for the loan deal.

The repayment period will be 30 years with a 10-year grace period.

Bangladesh will have to start yearly repayments in March 2027, the cabinet secretary had said .

The annual interest rate will be below 4 percent.

The government expects the first unit of the plant, having a 50-year lifespan, to be commissioned in 2021.