The World Bank has approved $55mn to expand the use of clean renewable energy in rural areas of Bangladesh where grid electricity cannot reach easily.
The additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids and about 4mn improved cooking stoves in rural areas, Xinhua news agency yesterday quoted the bank as saying on Wednesday.
The project, including the additional financing, will enable about 10mn people living in villages, shoals and islands to access electricity and use energy efficient cooking stoves.
These interventions will help the country reduce carbon emissions, said the bank.
“We are proud to be helping Bangladesh increase access to clean electricity through solar power. Today, the country has one of the world’s largest domestic solar power programmes, covering 14% of the population,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal.
“Building on its success in using solar energy to provide electricity in rural areas, this financing will also scale up other clean renewable energy options,” said Fan.
The project has already built 10 solar mini-grids in remote areas, including islands and shoals to provide grid-quality electricity.
This additional financing will help construct another 30 solar mini-grids.
These will provide about 28,000 connections to households and businesses, including small and medium-sized enterprises.
Asian Development Bank officials brief journalists on ADB’s view on Bangladesh economic growth in Dhaka. The Asian Development Bank (ADB) is forecasting the Bangladesh economy to expand by 7% in the 2018-2019 fiscal (July 2018-June 2019), reflecting moderation from last year, as agriculture and services growth slows.
