In Bangladesh, ADB, IDB Loans for Sustainable Energy to Fill In Huge Power Deficit

An electricity tower in Bangladesh. The country will receive $581 million to develop new sources of sustainable energy. Photo by: Ashiful Haque / CC BY

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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  • Che

    Che de los Reyes

    As a senior staff writer, Che focuses on international development breaking news coverage as well as interviews and features. Prior to joining Devex, Che handled communications for local and international development NGOs and government institutions in the Philippines.