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$10 urged by Bangladesh as Foreing donation for power sector

Bangladesh on Sunday said it wants to secure $10 billion in investment to boost its limping energy sector and plans a series of roadshows in Britain, the United States and Singapore to woe investors.

A lack of power and gas has held back development, hampered poverty reduction and slowed overall economic growth, it said, and so an 11-member team of experts, led by the prime minister’s energy adviser, Towfiq-e-Elahi Chowdhury, would seek the investment needed to turn the sector around.

Terming the trip a “road show” to drum up investment, Chowdhury told reporters before departing on Sunday that initially they would aim to attract $5 billion investment for the period until 2013, and then another $5 billion by the end of 2021.

Bangladesh’s donors and friendly governments had long insisted the impoverished Indian ocean nation of 150 million people must have a freely elected democratic government to woo investors and pursue development, especially in energy and infrastructure that are key to take the fledgling economy forward.

Bangladesh’s annual GDP growth has hovered at around 6 percent over the past decade but the officials, economists and analysts say Dhaka needs to achieve double-digit growth to combat poverty that still grips more than 40 percent of its people

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This entry was posted on Monday, December 14th, 2009 at 2:38 am and is filed under Bangladesh, Bangladesh, Development. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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