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World Bank to lend Bangladesh $59m for power sector

  • Published at 08:35 pm April 27th, 2017
  • Last updated at 08:37 pm April 27th, 2017
World Bank to lend Bangladesh $59m for power sector

The World Bank has approved a $59 million loan for Bangladesh to upgrade the power sector in the country under the “Power System Reliability and Efficiency Improvement Project.”

"The project aims to reduce power outages and electricity generation cost in Bangladesh," said Qimiao Fan, World Bank country director for Bangladesh, Bhutan and Nepal.

"The project will help address bottlenecks and modernise the overall power system. This will reduce outages, save fuel in power generation, and help bring affordable and reliable electricity to households and businesses," he added. “The Power System Reliability and Efficiency Improvement Project” will revamp the entire system, from electricity generation to transmission, reported BSS on Thursday. Upgrades to the transmission system, through  modern electricity generation processes and practices, will be accompanied by  installation of new software and hardware. The project design also includes the use of carbon-intense fuel in electricity generation to reduce greenhouse gas emission levels. Although Bangladesh almost doubled its electricity generation in the last five years, further development will be required to meet increasing demand, the project design said.