Dhaka, April 30 -- Asian Development Bank (ADB) will arrange a loan of US$121.55 million for a local private company to set up a 100-megawatt solar power plant in Pabna.

The Manila-based lender signed an agreement with Dynamic Sun Energy (DSE) Private Limited here on Monday, said a press release Tuesday.

DSE, owned by Paramount Textile PLC (PT), is one of the largest woven textile manufacturers in Bangladesh, and also operates several power plants in the country.

The power plant is the country's first private sector utility-scale solar facility to secure support from the global financiers.

ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and book runner, according to the statement.

The fina...