`WB to provide $415 mln for BD`s power sector

Parliament Correspondent: State Minister for Finance M A Mannan on Thursday told parliament, "The World Bank will provide $415 million loan to support Bangladesh`s power sector to overcome its nagging electricity shortages."

The Junior Minister came up with the information while responding queries in this regard in the parliament on the day.

He added, "We will receive the loan from world financial body in the current fiscal year."

While responding the Minister also said, "Of the total loans, $165 million will be received for Siddhirganj Power Project while $250 million for Ghorashal Unit-4 Repowering Project."

Earlier Ellen Goldstein, country director of the World Bank in Bangladesh had said, "Inadequate power supply costs Bangladesh as much as 2 percent in GDP growth each year."

"We are supporting the government of Bangladesh for reliable power generation to boost growth," she said in a statement.

Through public-private partnerships (PPP), independent power providers have increased generation by 178 megawatts in recent years.

World Bank also supported government`s $321 million rural electrification and renewable energy development project.

Power plants at Haripur with 360 megawatts (MW) capacity and Meghnaghat with 450 MW capacity supported by the World Bank are providing reliable power to the national grid.


risingbd/ DHAKA/ Sept 3, 2015/ NR/ Mahfuz