The Asian Development Bank (ADB) has signed a $17.7 million financing agreement with Spectra Solar Park Limited to invest in a 35 MW utility-scale solar PV plant in Bangladesh. This plant will be one of the first privately owned solar plants in Bangladesh to be financed by multilateral institutions and will support the country’s efforts to attain long-term energy security and meet its climate goals by stepping up the use of clean energy. The financing comprises a loan from ADB and the ADB-administered Canadian Climate Fund for the Private Sector in Asia II (CFPS II). The CFPS also provided a technical assistance grant to support project preparation and catalyse the disbursement of loans. The two funds were established by the Canadian government to encourage private investment in climate change mitigation and adaptation projects in Asia and the Pacific.