Japan Bank for International Cooperation (JBIC) on Monday inked a three-year memorandum of understanding (MoU) with Energy and Mineral Resources Division (EMRD) to strengthen strategic cooperation in the energy sector of Bangladesh.
JBIC Chief Representative of Delhi Kurihara Toshihiko and EMRD Joint Secretary Lailatul Ferdous signed the non-binding MoU at Bangladesh Secretariat, in presence of State Minister for Power, Energy and Mineral Resources Nasrul Hamid.
Mr Hamid said Bangladesh will require using modern technology to ensure proper utilisation of natural gas and the agreement is expected to help energy transition through utilisation of Japanese technology in developing necessary infrastructure for liquefied natural gas (LNG) and gas-fired power plants.
Japanese firms are showing increased interests in Bangladesh and this MoU would help improve the investment-friendly environment in the country, he added.
The state minister said Bangladesh will require installing around 3.0 million smart gas meters, and that gas wastage could be checked if these meters could be installed with funding support from the JBIC, World Bank (WB) and Asian Development Bank (ADB).
EMRD Secretary Md Nurul Alam and JBIC Director General Suzuki Ryuta also spoke, among others, at the function.
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