Speakers at a meeting on Thursday said the government and the development partners need enhanced partnership to meet the new challenges in power sector.
Appreciating the government's move in achieving national growth target in power production and other goals, they observed that the government and the development partners had collaborated well in the energy sector in passing days but now it needed more close partnership for meeting the new challenges here.
"The government and the development partners have collaborated well in the energy sector, but new challenges have emerged, triggering rapid response requirements through enhanced partnership and innovation," said Manmohan Parkash, Country Director for ADB's Bangladesh Resident Mission at a working group meeting of the Local Consultative Group (LCG) at Bidyut Bhaban on Thursday.
Bangladesh needs to promote energy efficiency, renewable energy, regional power trade, latest technologies as well as diversify its energy sources to transform and sustain the sector, says Asian Development Bank (ADB).
"Bangladesh has made good progress in energy sector which has direct links to the country's economic growth, industrialization and people's development," Manmohan Parkash said.
The discusssants at the meeting also focused on industrial development and diversification of industrial base, transforming energy demand patterns based on residential, industrial and transport consumption and extended regional cooperation in thermal and hydro power generation, among others.
"Providing last mile connectivity for electricity access, developing proper energy mix by investing in renewable and harnessing regional power trade, establishing a dynamic natural gas pricing and electricity tariff mechanism, attracting private sector investment, and developing the sector in the context of climate change are critical for inclusive and sustainable development," ADB country chief said.
Dr. Ahmad Kaikaus, Senior Secretary of Power Division, Abu Hena Md. Rahmatul Muneem, Secretary, Energy and Mineral Resources Division and other government officials attended the LCG meeting.
Representatives from AFD, AIIB, DFID, EIB, EU, IDB, GIZ, JICA, KfW, USAID, UNDP, World Bank, participated in the meeting among other development partners, according to a media release of ADB.
ADB says it is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
In 2018, it made commitments of new loans and grants amounting to$21.6billion.
