AIIB project hailed in rural Bangladesh

Officials said implementation of all the components of the project will immensely benefit rural people and it will also improve the quality and reliability of the power supply by reducing distribution losses.

They said Bangladesh is now eyeing more AIIB funds for many more power sector initiatives.

“An AIIB delegation will visit Bangladesh soon to discuss its funding for more BREB projects,” Rahman said.

The Bangladeshi government has already requested the China-initiated international financial institution to consider providing more financial support for other projects.

Officials said Bangladesh is looking to the AIIB as the country has already identified inadequate electricity supply as a major constraint on GDP growth, and its overall economic development is in dire need of more funds to develop mega infrastructure projects.

To address these challenges, Bangladesh has adopted a multipronged plan involving substantial sector investments, regional power trade and sector reforms.

Nasrul Hamid, state minister for power, energy and mineral resources, recently said the government is looking to China for help to build a major power hub at Payra, 200 kilometers south of capital Dhaka.

“We’re thinking of generating at least 9,000 MW of power from the hub, investing $10-12 billion in this area. China can be one of the big investors to make finance of this construction and take the advantage of this huge infrastructure.”