Japan Bank for International Cooperation (JBIC) has signed a three-year memorandum of understanding (MoU) with Bangladesh’s Energy and Mineral Resources Division (EMRD) to enhance strategic cooperation in the energy sector. The MoU aims to leverage Japanese technology for the development of necessary infrastructure for liquefied natural gas (LNG) and gas-fired power plants in Bangladesh.
State Minister for Power, Energy, and Mineral Resources Nasrul Hamid highlighted the potential for Japanese technology to contribute to the country’s energy transition. The agreement is expected to attract increased Japanese investment in Bangladesh, fostering an investment-friendly environment. Additionally, Bangladesh plans to install approximately 3 million smart gas meters, and financial support from JBIC, the World Bank, and the Asian Development Bank is sought for this initiative.