WASHINGTON, August 4, 2009 - The World Bank’s Board of Executive Directors today approved the following project:
IDA Credit: US$130 million
Terms: Maturity = 40 years; Grace Period = 10 years
Project ID: P112963
Project Description: The Additional Financing for the Rural Electrification and Renewable Energy Development Project aims to support Bangladesh's efforts to raise levels of social development and economic growth by increasing access to electricity in rural areas. The additional financing credit will help finance the costs associated with: (i) scaling up the project's renewable energy components which are improving off-grid electricity supply in rural areas through the installation of Solar Home Systems (SHSs) for affordable lighting, and also supporting electricity generation and supply from other renewable energy sources; (ii) introducing energy efficient Compact Fluorescent Lamps (CFLs) as part of a electricity demand side management program to help address the severe energy shortages in the country, which is particularly affecting the rural areas of Bangladesh; and (iii) rehabilitating additional electricity distribution networks in rural areas as part of the system loss reduction component of the project.
For more project information, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P112963