ADB can help build power market to facilitate electricity sales: Nasrul

State Minister for Power, Energy, and Mineral Resources Nasrul Hamid emphasised the role of the Asian Development Bank (ADB) in establishing a regional power market, allowing countries to buy and sell electricity based on demand.

"The ADB can help create a power market, through which electricity can be bought and sold as required," the minister told the ADB's South Asia Director General Takeo Konishi at the Secretariat yesterday.

"Bangladesh should increase the number of ADB-aided projects as the country eyes exporting power to Nepal or Bhutan in winter. Moreover, we have a plan to import about 9,000 megawatts of electricity in the future. A good consultant is needed to determine the true cost of fuel. The ADB can assist Bangladesh in this regard," he said. 

During the meeting, both parties also discussed other issues related to mutual interests.

ADB South Asia Director General Takeo Konishi discussed increasing the participation of the private sector in energy transition, financing for establishing roadmaps in electric vehicles, energy efficiency and solar irrigation, regional interconnection, and project readiness.

Noting that special importance is being given to the participation of the government, private individuals, or institutions for maximum utilisation of resources, Nasrul further said bonds are being issued to reduce government subsidies. 

"There is a strong potential for a positive outcome if Bangladesh and the ADB collaborate on developing key technologies and building a common data centre," the state minister also said. 

The ADB is financing seven projects worth $2.57 billion in the power sector. 

Among others, ADB Country Director Edimon Ginting was also present during the meeting.