Bangladesh will receive US$10 million (Tk 65,000 crore) as mixed credit from Norwegian Agency for Development for developing the country's power sector.

An agreement to this effect was signed between the governments of Bangladesh and Norway at a function at the Economic Relations Division (ERD) of the Planning Commission here yesterday.

Joint Chief of ERD Nargis Islam and Norwegian Ambassador in Dhaka Aud Lise Norheim signed the deal on behalf of their respective governments, an official handout said.

The fund will be utilised in establishing three 33/11 KV new substations, for renovation and extension of 12 33/11 KV sub-stations and extension of one 132/33 KV sub-station in 10 district towns of Bangladesh, the handout said.

The specific objectives of this programme are to improve peak load generation capacity to reduce load shedding, introduce competition in the sector, improve network reliability and increase access to electricity services, it added.