Bangladesh has sought the cooperation of the International Islamic Trade Finance Corporation (ITFC) to modernise the power distribution and transmission system.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid sought cooperation when Chief Executive Officer of International Islamic Trade Finance Corporation (ITFC) Engineer Hani Salem Sonbol called on him at his office in the Ministry on Tuesday.
“We want to provide uninterrupted electricity at an affordable price. ITFC can assist in the modernisation of distribution and transmission systems,” he told the ITFC chief.
During the meeting, several issues related to their mutual interests were discussed.
The State Minister expressed his gratitude to the CEO of the ITFC and his willingness to work together to increase the existing relationship.
Nasrul Hamid stated the size of Bangladesh’s economy is gradually growing.
He claimed that there are huge investment opportunities in the ongoing and planned projects in Bangladesh.
According to the Chief Executive Officer of ITFC, his company wants to deepen its strategic alliance with Bangladesh.
ITFC will fund the import of LNG in addition to oil. US $ 500 million at first, but it can be raised over time, he continued. During the discussion, a variety of topics for financing and investment were covered, including oil refineries, pipelines for the transfer of gas and oil, energy-efficient electricity, and renewable energy.
Energy and Mineral Resources Secretary Md Nurul Alam, Petrobangla Chairman Janendra Nath Sarkar and ITFC General Manager Abdihamid Abu were present on the occasion.
