WB to provide finance for setting up power plants
February 25, 2009 00:00:00
The World Bank (WB) assured of providing finance for setting up new power plants, renovation and enhancing skill of old ones and development of distribution system in rural areas, reports UNB.
The assurance came when a five-member WB delegation led by its country director Xian Zhu called on Prime Minister's Adviser Dr Toufique-e-Elahi Chowdhury at his secretariat office Tuesday.
Dr Toufique requested the delegation to finance new setting up new power plants, enhancing the capacity of sub-stations of rural electrification board and network expansion.
He also requested the WB to finance for setting up Independent Power Plants (IPP) in the public sector if financing is not possible to the private sector.
Xian Zhu assured him of providing all kinds of assistance for development of the power sector.
The WB will work for managing finance for new power plants and look how to involve the private sector in such initiative, said the WB official.
As decided earlier, the WB will provide $150 million for formation of southern region power distribution company under the development policy loan and another $100 million for Rural Electrification Board.
The WB is eager to provide financial assistance for renovation of old power plants and enhancing skill, use of renewable energy for power production, saving energy, corporatization of southern region power distribution company and improvement of distribution system of rural power, said Xian Zhu.
