LAGOS – The Deputy Managing Director, Infrastructure Development Company Ltd. in Bangladesh, Mr Sahabuddin Islam, on Tuesday urged the Federal Government to establish an energy bank specifically for power sector development.
Islam made the call at the ongoing West African Power Industry Convention (WAPIC) in Lagos.
He said that when established, part of the bank’s fund should be used to support building of renewable energy infrastructure to boost rural electricity.
He also advised that such bank should be devoid of political interference, adding that professionals with competence in running infrastructure bank should be given a free hand to manage it.
“Political interference will hamper the development of the power sector which is critical to economic development,” Islam said.
He disclosed that the Government of Bangladesh used only15,000 dollars to set up the Infrastructure Development Company and allowed professionals to run the business of funding of the sector.
He put current capital base of the company at 60 million dollars, saying that Bangladesh, though a developing nation, was able to generate 10,000 megawatts of electricity “via conventional and non-conventional means”.
This, he said, had helped to stabilise power supply in the country by 68 per cent.
Islam noted that Ethiopia, Ghana and Sudan in Africa as well as China and India had sought advice from government of Bangladesh on the use of solar energy to generate electricity.
According to him, Bangladesh has the largest number of users of renewable energy in the world, providing 4.5 million homes with electricity through this source.
“Bangladesh has provided renewable energy to 4.5 million homes that were not on national grid.
“This has helped in solving the energy problem of the country with a population of 160 million people,’’ he said. (NAN)
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