Bangladesh in Talks With World Bank on Power Loan

Bangladesh hopes to secure more than USD350 million in credit from the World Bank to improve the country’s energy sector. “We are almost in the final stage (of getting the loan approved) and the money will be utilized to implement a number of projects in the energy sector, including setting up a 300-megawtt (MW) power plant,” said Mohammad Mohsin, secretary of the government’s energy and mineral resources division. The global lender raised its initial offer of USD275 million to accommodate the government’s request for additional funding to construct a 60-kilometer natural gas pipeline. (“Bangladesh seeks USD350 mln World Bank loan for energy” - Thomson Reuters, Sept. 14, 2008)