World Bank approves $560m for power supply, microenterprises in Bangladesh
The World Bank has approved $560 million for two projects in Bangladesh to improve power supply and help microenterprises become environmentally sustainable.
“The World Bank is helping Bangladesh overcome barriers to higher growth. Unreliable power supply and environmentally-unstainable enterprises hinder a county’s competitiveness and poverty reduction efforts,” Zahid Hussain, World Bank’s acting country director for Bangladesh, said in a statement on Friday.
“By improving electricity transmission and helping in micro-enterprises adopt environment-friendly technologies, these projects will help Bangladesh achieve sustainable growth and advance towards upper middle-income country vision.”
The $450 million Enhancement and Strengthening of Power Transmission Network in Eastern Region Project will expand the electricity transmission network in the eastern region, covering Comilla and Noakhali and part of Chittagong. It will provide new electricity connections to 275,000 households and 16,000 agricultural consumers and reduce power interruptions.
The project will expand the existing grid network by building 13 new substations and rehabilitating an existing one. It will also construct 290km new and rehabilitate 157km existing transmission lines.
The $110 million Sustainable Enterprise Project, also approved on Thursday, will help 20,000 microenterprises adopt environmentally-friendly practices.
It covers manufacturing and agribusiness sectors, including leather, mini-textiles, light-engineering, plastic, food processing, metal products, livestock, horticulture, aquaculture and poultry.