Economic Reporter :
The government on Tuesday signed two financing agreements totaling $515 million with the World Bank to help expand electricity transmission network and improve insurance coverage.
The agreements were signed by Economic Relations Division (ERD) Additional Secretary Mahmuda Begum and World Bank Country Director Qimiao Fan on behalf of the government of Bangladesh and the World Bank, respectively, at the ERD.
The $450 million Enhancement and Strengthening of Power Transmission Network in Eastern Region Project will improve reliable electricity supply and reduce load shedding in the eastern region, covering greater Cumilla and Noakhali and part of greater Chattogram.
About 275,000 households and 16,000 agricultural consumers will get new electricity connection.
The project will build 13 new substations and rehabilitate an existing one in the country’s eastern part. These will also help integrate renewable energy and new generations into the grid. The project will build one 230 kV transmission line through greater Cumilla and four short distance 132 kV lines in Cumilla and Noakhali areas.
“In recent years, the government has significantly increased power generation. But, only investing in power generation is not sufficient, unless that is supported by improvement in transmission and distribution,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan, and Nepal.
