JBIC keen to finance in BD's power, energy sector

Japan Bank for International Cooperation (JBIC) has expressed keen interest to finance in the new projects of power and energy sector in Bangladesh.

"The interest of Japanese companies and businessmen to work in Bangladesh is increasing. The funding of JBIC will increase in Bangladesh," JBIC Governor Hayashi Nobumitsu said on Wednesday. 

Nobumitsu came up with the assurance when State Minister for Power, Energy and Mineral Resources Nasrul Hamid paid a courtesy call on him at JBIC headquarters at Tokyo in Japan, said an official handout here.

The JBIC chief laid emphasis on simplifying the approval process for the funding in the power and energy sector in the country.

During the meeting, the issues of gas meters, Haripur re-powering project, some combined cycle power plants, LNG terminal, LNG based power plants, investments and financing in renewable energy were discussed.

Highlighting the areas of investment in Bangladesh, Nasrul said that it is necessary to have an office of JBIC in Bangladesh.

Investment opportunities in sub-sectors such as power generation, transmission, distribution, underground distribution systems, GIS sub-stations, power transmission systems in char or remote areas, smart meters, floating solar power plants, generating power from waste, wind power, solar grids and high power distribution networks have been created, he said, adding, "We always welcome the use of advanced technology".

Earlier, Power, Energy and Mineral Resources Ministry signed a Memorandum of Understanding (MoU) with the JBIC on December 17, 2020 with the main objective to finance in infrastructural development projects and activities in the power and energy sector.