Bangladesh will soon be developing new sources of sustainable energy, thanks to loans totaling $581 million from the Asian Development Bank and the Islamic Development Bank. This is expected to fill in the country’s huge power deficit, as almost half of the population does not have access to electricity.
The ADB will provide $300 million for the construction of a new natural gas-fueled power station to replace aging units at the country’s second-largest plant in Ashuganj.
The IDB, meanwhile, will provide $200 million for the construction of a 5-megawatt solar photovoltaic plant and a hybrid renewable-energy project on Hatiya Island, as well as the retrofitting of streetlights with more energy-efficient bulbs. Bangladesh will give an $81 million counterpart to the project.
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