Energy costs to double by 2031: Jica
Energy costs in the industrial and transport sectors will stand at $20 billion by 2031, double that of 2021, said Hitoshi Hirata, chief representative at the Bangladesh office of Japan International Cooperation Agency (Jica).
Jica has been assisting Bangladesh in efforts to cut energy cost which is very crucial for the country's future development, he said.
Hirata was addressing the launching of the three-day “Green & PPP Convention and Expo 2018” organised by state-run Bangladesh Infrastructure Finance Fund Limited (BIFFL) at Bangabandhu International Conference Centre in the capital.
Finance Minister AMA Muhith inaugurated the expo as the chief guest. The BIFFL gave a cheque worth Tk 64 crore to Muhith as dividend.
Hirata said efficient use of energy in Bangladesh is very crucial as the country has been importing power alongside going for low-cost natural gas-based electricity generation. To minimise costs, the power tariff has also been increased, he said.
The Jica representative said energy-efficient machines have to be set up in industries, something for which Jica has been assisting Bangladesh for the last couple of years.
Hirata said Jica has provided Bangladesh $100 million whereas the demand was $1 billion.
The BIFFL organised the expo to promote green and energy-efficient technology as well as public private partnership (PPP) for sustainable infrastructure development in the country.
A BIFFL statement said the convention provided a platform for the participants to share experience from global best practices and collate recommendations for policymakers to formulate enabling policies and regulations towards fostering the green movement in Bangladesh.
Three national seminars will be held alongside the expo followed by plenary discussions participated by experts, development partners, bankers, regulators and users.
In the expo, suppliers of green and sustainable technologies have got the opportunity to showcase their innovative business solutions. They can also get a good deal of knowledge and ideas on the latest innovations in green technologies, energy-efficient equipment as well as the source of financing.
The BIFFL has been organising the convention and expo as a part of its nationwide promotion of widespread usage of energy-efficient and environment-friendly technology in energy intensive industrial sector and infrastructure development work that will lead to savings in power and energy.
This year the event is also being organised in Chattogram at GEC Convention Centre, which would start today and run till October 7.
In his welcome speech, SM Formanul Islam, CEO of the BIFFL, said his institution was established in 2011 and disbursed financing facilities worth Tk 2,116 crore in various sectors, including power, energy, communication and economic zones. They will also provide loans of Tk 3,160 crore in prospective projects, he said.
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