ADB provides $200m to boost energy efficiency, transition in Bangladesh

Published : 28 Nov 2023 09:08 PM

The Asian Development Bank (ADB) and the Government of Bangladesh today signed a loan agreement for $200millionto help Bangladesh enhance energy efficiency through smart metering as well as support its transition to clean energy solutions.

Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, and Edimon Ginting, ADB Country Director for Bangladesh signed the agreement on behalf of Bangladesh and ADB, respectively.

The Smart Metering Energy Efficiency Improvement Project will support the government’s efforts to reduce losses by installing 650,000 smart prepaid gas meters (SPGMs) for residential customers, primarily in South Dhaka and Narayanganj. 

Installing SPGMs is one of the climate mitigation measures specified in Bangladesh’s nationally determined contributions under the Paris Agreement. The project is expected to reduce around 400,000 tons of carbon dioxide emissions annually.

“This project will help save gas; prevent gas wastage; build customers’ awareness of the safe and efficient use of gas; and improve the financial performance of the gas distribution company by improving revenue streams and reducing billing, collection, and monitoring costs,” said Country Director Edimon Ginting. 

The project increases the operational efficiency of the state-owned Titas Gas Transmission and Distribution Company Limited—the country’s largest gas distribution company—through transformational and modernized approaches.