WB to help 1.1m Bangladeshi villagers to access energy
The World Bank has signed a $15 million grant agreement with Bangladesh to increase access to clean energy for targeted rural areas through output-based aid (OBA) subsidies.
The grant is expected to benefit 1.1 million people living in poor, remote areas of Bangladesh currently lacking electricity from the power grid, a statement from the bank said on Saturday.
The project will make clean energy affordable to low-income households without using the grid by bringing down the cost of 225,000 solar home systems and 2,500 mini-grid connections.
The grant will f...
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Bangladesh now a lower middle income country
Bangladesh yesterday graduated from the low income status to lower middle income nation (LMIC), meeting the World Bank’s requirements comfortably.
This will be seen as a giant leap forward for the country to become a middle income nation after being bracketed as a low income country for decades.
The promotion came on the back of the country’s stride towards higher per capita income in recent years, riding on stable economic growth.
The WB used last year’s data to determine this year’s ...
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