Bangladesh and World Bank sign US$ 515 mn financing agreement | Daily News

Bangladesh and World Bank sign US$ 515 mn financing agreement

DHAKA, June 29, 2022 – The government of Bangladesh and the World Bank signed a $515 million financing agreement to help 9 million people get access to reliable electric supply while transitioning to clean energy.

The Electricity Distribution Modernization Program will support the digitization and modernization of 25 rural electric cooperatives or Palli Bidyut Samitis in Dhaka and Mymensingh Division and reduce electricity system losses by over 2 percent. The program will increase Bangladesh Rural Electrification Board’s (BREB) delivery of electricity by 6,790 GWh while improving climate resilience of the electricity system.

“The government of Bangladesh has prioritized access to electricity in the last decade and now the entire population has access to electricity. The installed generation capacity increased five-fold to 25 GW in the same period,” said Dandan Chen, Acting World Bank Country Director for Bangladesh and Bhutan.

“Through this program, new and emerging technologies will further strengthen the efficiency and reliability of electric supply in the country to meet the need for faster economic growth.” (BBC)


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