The power system reliability and efficiency improvement project, which will modernize and upgrade Bangladesh’s power system, includes the installation of new software and hardware.
The project will enable Bangladesh to minimize power outages, load-shedding and fuel usage through an automated and integrated operation of the power system and an optimal dispatch of electricity.
Besides, the project involves construction and replacement of a 40km transmission line. It is expected to help in reduce the emissions of greenhouse gases by minimizing the use of carbon fuel for the production of electricity.
The interest-free loan given by the World Bank is for a period of 30 years with a further extension of nine years. Till date, the bank has provided over $26bn to Bangladesh.
World Bank Bangladesh, Bhutan and Nepal country director Qimiao Fan said: “In the last five years, Bangladesh has doubled its electricity generation capacity to meet the growing demand. Today, about 78 percent of the population have access to electricity.
“With rapid increase in the size of the power system, the country now faces challenges of ensuring quality and reliability of electricity supply. The project will help improve efficiency and reliability of the power sector. Reliable and low-cost power supply will make doing business easier and benefit households.”
Government of Bangladesh economic relations division secretary Kazi Shofiqul Azam said: “The government is committed to provide electricity to all. The financing will help remove bottlenecks and optimize the national power system to ensure affordable and round-the-clock electricity.”
