17 July 2002 – The government of Bangladesh and the World Bank (WB) signed two agreements in the city yesterday for implementation of the rural electrification and renewable energy development project, says a press release.
Under these agreements, Bangladesh will receive a credit worth $191m from IDA, the concessionary lending arm of the WB, and a grant of $8.2m from the Global Environment Facility (GEF) Trust Fund.
Anisul Huq Chowdhury, secretary of Economic Relations Division (ERD), and Frederick T. Temple, country director of the WB in Bangladesh, signed the agreements on behalf of their respective sides.
The objective of the project is to support Bangladesh’s vision of attaining a higher level of social development and economic growth by increasing access to electricity in rural areas.
The project will start from the current financial year and will be completed by June 30, 2008.
The project will be implemented through the Rural Electrification Board (REB) and the Infrastructure Development Company Limited (IDCOL).
The project aims to distribute electricity among about 700 000 additional households, rural small and medium enterprises and public institutions under grid-based systems, and about 64 000 rural households or installations under off-grid systems.
It will also develop a framework for piloting different types of small power projects and establish an institutional system for measuring and documenting the impacts of electricity on poverty and quality of life.