NEWS report said that Bangladesh signed a deal with Russia for the construction of Rooppur Nuclear Power Plant. For this purpose, Russia would lend $11.38 billion as supplier’s credit in installments staggered over eight years beginning January 2017. It is the biggest single credit deal Bangladesh ever signed with any lender based on political consideration. Stakeholders however describe it as a milestone on the way to implementation of the first nuclear power station of Bangladesh, covering up abysmal power shortage that the country has been facing. But how Bangladesh will benefit from the big financial deal with Russia is a big question.
Bangladesh is going to be the middle income country with achieving its full-length developing country’s character, which will increase the steadily demand for clean energy further. In this context, continuous electricity supply will be a challenge for Bangladesh if it cannot reach the sustainable electricity and energy security. Amidst this scenario the issuance of site license by Bangladesh Atomic Energy Regulatory Authority (BAERA) to Rooppur Nuclear Power Plant Project to start the main construction work is indeed a step in the right direction. But it raises question as to how much sensible the power plant and the deal with Russia for the construction of this power plant following the current context of Bangladesh. It may produce significant bucketful of radioactive wastes. Some studies also establish that the fear of nuclear energy from the health and environment perspectives is right.
Besides, the apprehension of environmental organizations such as the Greenpeace, about fear of radiation makes more sense that may affect the population. It is upsetting that all experts will be taken from Russia and India to construct the power plant as some report said. Now, it raises another question how Bangladesh will be the part to construct the power plant. However, given the history of Chernobyl Nuclear Plant melt-down in Ukraine and its devastating effects from which the country has yet to come out, we should be extremely careful while installing such nuclear plants. We simply cannot afford to face another Chernobyl disaster here.
Report said that under the terms of the agreement, Russia would provide the credit in installments over eight years beginning January 2017. To be repaid in 30 years with 10 years’ grace period, the credit would carry 1.75 per cent interest plus LIBOR, abbreviation of London Interbank Offered Rate. The credit would be highly burdensome for Bangladesh. In this situation, we suggest to review the deal whether Bangladesh needs so much credit in the first place to buy machinery from Russia. It must particularly realize whether the big nuclear plant would be environmentally sustainable, economically affordable and technically manageable. In our view, the government should realize the harms of this plant. Outsiders’ interest articulation may not be our goal.
