WB team arrives Oct 28 to discuss energy loan
Thursday, 25 October 2007
FHM Humayan Kabir
The World Bank (WB) is likely to provide financial support for the development of the country's energy sector and help augment production and supply of the hydrocarbon, finance ministry sources said.
A WB mission is scheduled to arrive Dhaka on October 28 next on a six-day visit in order to explore areas of cooperation with the government to develop the energy sector, the sources added.
The global lender in a letter to the Economic Relations Division (ERD) Wednesday showed interest to provide the support as "Energy Development Policy Loan (DPL)".
The development partner, however, did not specify the amount that it wants to extend.
Sources said the upcoming WB mission from October 28 to November 2 would assess the plan to overcome the worsening gas and power situation in Bangladesh.
The mission will also finalise the WB support to both the power and gas sectors to help attain the mid-term goals, the sources said.
The WB team would also review the energy sector reforms in Bangladesh before going to the next course of actions for their proposed Energy DPL.
A senior finance ministry official said: "After ending the development support credit (DSC) programme in last fiscal 2006-07, the government has requested the Washington-based lender to provide transitional budgetary support to help reduce its budget deficit. This DPL, if materialised could be a transitional budgetary support."
"The Bank had already started the process for providing another $100 million Power DPL for Bangladesh," he added.
The World Bank (WB) is likely to provide financial support for the development of the country's energy sector and help augment production and supply of the hydrocarbon, finance ministry sources said.
A WB mission is scheduled to arrive Dhaka on October 28 next on a six-day visit in order to explore areas of cooperation with the government to develop the energy sector, the sources added.
The global lender in a letter to the Economic Relations Division (ERD) Wednesday showed interest to provide the support as "Energy Development Policy Loan (DPL)".
The development partner, however, did not specify the amount that it wants to extend.
Sources said the upcoming WB mission from October 28 to November 2 would assess the plan to overcome the worsening gas and power situation in Bangladesh.
The mission will also finalise the WB support to both the power and gas sectors to help attain the mid-term goals, the sources said.
The WB team would also review the energy sector reforms in Bangladesh before going to the next course of actions for their proposed Energy DPL.
A senior finance ministry official said: "After ending the development support credit (DSC) programme in last fiscal 2006-07, the government has requested the Washington-based lender to provide transitional budgetary support to help reduce its budget deficit. This DPL, if materialised could be a transitional budgetary support."
"The Bank had already started the process for providing another $100 million Power DPL for Bangladesh," he added.