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April 12, 2018

World Bank to support electricity transmission in Bangladesh

The Bangladeshi Government has signed two financing agreements worth $515m with the World Bank to finance the expansion of the country's electricity transmission network, as well as improve insurance coverage.

The Bangladeshi Government has signed two financing agreements worth $515m with the World Bank to finance the expansion of the country’s electricity transmission network, as well as improve insurance coverage.

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The credits to the government are being provided by World Bank’s concessional lending entity International Development Association (IDA).

The first financing agreement will see the bank provide a $450m credit for the Enhancement and Strengthening of Power Transmission Network in Eastern Region project, which aims to improve the reliability of electricity supply and reduce load shedding in the eastern region, covering Cumilla and Noakhali, in addition to part of greater Chittagong.

The project will see the construction of 13 new substations and the rehabilitation of an existing substation in the eastern region of the country.

“By supplying uninterrupted power to the Mirsharai Economic Zone, port, airport or other key economic facilities, the project will help unlock private sector and job growth.”

The new substations will also help integrate renewable energy and new generations into the grid.

As part of the project, a 230kV transmission line will be built by the government through greater Cumilla and four short-distance 132kV lines in Cumilla and Noakhali.

World Bank Bangladesh, Bhutan and Nepal director Qimiao Fan said: “In recent years, Bangladesh has significantly increased power generation. That significantly increased power generation requires improvement and expansion of the transmission and distribution system to get to consumers.

“By supplying uninterrupted power to the Mirsharai Economic Zone, port, airport or other key economic facilities, the project will help unlock private sector and job growth.”

The project will also see new electricity connections to nearly 275,000 households and 16,000 agricultural consumers.

Through the second financing agreement, World Bank will invest $65m into the Insurance Sector Development Project, which has been designed to strengthen the regulatory and supervisory capacity of the Insurance Development and Regulatory Authority (IDRA).

The funds will also be used by the government to modernise the systems and business practices of state-owned insurance corporations Shadharan Bima and Jiban Bima.

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Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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