The government on Tuesday signed a
The assistance is the second tranche of
The other co-financiers supporting the programme include Agence FranÇaise de DÉveloppement, the
Joint Secretary of Economic Relations Division (ERD)
The investments are part of a broader government plan to reform and strengthen the power sector, tapping private sector financing. The goal is to raise generating capacity to more than 12,500 megawatts and the rate of electrification to 68 percent by 2015.
The assistance under the second tranche will help increase transmission and distribution capability in the power system. This will allow increased power transfer from Ghorasal to Tongi and increase transmission capability to satisfy the increasing demand in
The investments will also allow improved distribution networks in the
The overall Power System Expansion and Efficiency Improvement Investment Programme will connect 450,000 households to the power grid and reduce carbon emissions by almost 2.5 million tonnes per year when the project is completed in 2018.
The power system and financial management training will be given to staff in sector institutions, and a pilot project with around 200 solar energy-driven irrigation pumps will be established, benefiting around 4,000 poor farming families.
“Deficiencies in power generation, supply and distribution are constraining businesses and undermining people’s quality of life, with poor communities suffering the most,” said
“Increased access to power and energy is critical for further growth and development of Bangladesh,” he added.
Most Popular Stories
- #myNYPD Twitter Campaign Backfires for NYPD
- NRA Seeks Universal Concealed Carry Permits
- FCC May Allow Companies to Pay for Internet Priority
- Money Market Fund Assets up by $7.32 Billion
- Pols Back Away From Bundy After Racist Statements
- Durable Goods Orders Rose More Than Expected
- First-time Jobless Claims Jump by 24,000
- Hillary Clinton to UConn: 'Take a Stand'
- Molina Adding Hundreds of Jobs in Michigan
- Putin Says Internet Is CIA Plot