In June 2017, CDC made a project finance loan of $25 million to Bangla Offshore as part of an IFC-led lending syndicate comprising the IFC, Japan’s JICA, Dutch development bank FMO, and Germany’s DEG.
The project sponsors include IFC and Excelerate Energy, a Houston-based specialist in Floating Storage Regasification Unit (FSRU) projects.
Our loan will support the development of clean energy in Bangladesh and help secure its future energy supply.
Bangladesh suffers from a lack of natural gas, caused in part by growing energy demand and the depletion of natural gas reserves. This has fuelled an increasing dependence on expensive, imported liquid fuels.
The Moheshkhali Floating LNG project is a milestone for Bangladesh as it will provide the crucial infrastructure required for the country to access natural gas from global markets.
A new terminal will enable Petrobangla, the state-owned offtaker, to procure LNG from international gas markets and improve Bangladesh’s ability to reliably use the country’s domestic natural gas reserves.
Construction of the terminal will begin in late 2017 and it is expected to be in service by mid-2018.
Expanding access to diverse and abundant sources of natural gas supply will build a reliable source
Environmental and social aspects
CDC and other DFIs, with the support of an external specialist, have been providing guidance to the company to ensure robust environmental and social management practices are implemented.
Bangla Offshore has successfully built its facilities to meet best practice standards in international environmental and social management.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Debt
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- June 2017
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.