CosmicTaco

Adani Warns Bangladesh of Unsustainable $500mn Power Debt

CosmicTaco · 2024-09-09T10:28:10.696363+05:30

- India's Adani Group has alerted Bangladesh's new government about a $500mn overdue payment crisis from a power project. - The interim government, led by Nobel laureate Muhammad Yunus, blames costly deals under former PM Sheikh Hasina for financial woes. - Adani continues to supply power despite rising dues, urging Bangladesh to stabilize finances with help from lenders like the World Bank. - Bangladesh faces $3.7bn in total power liabilities, with $492mn owed to Adani alone. - Yunus's administration plans to reintroduce competitive bidding and review past energy deals to ensure cost-effectiveness. Source: [Financial Times](https://www.ft.com/content/176b6884-8e69-47ee-990c-c78a26793d7c)

India's Adani Group has alerted Bangladesh's new government about a $500mn overdue payment crisis from a power project.
The interim government, led by Nobel laureate Muhammad Yunus, blames costly deals under former PM Sheikh Hasina for financial woes.
Adani continues to supply power despite rising dues, urging Bangladesh to stabilize finances with help from lenders like the World Bank.
Bangladesh faces $3.7bn in total power liabilities, with $492mn owed to Adani alone.
Yunus's administration plans to reintroduce competitive bidding and review past energy deals to ensure cost-effectiveness.

Source: Financial Times