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WB for cooperation in energy among Saarc countries

Star Business Report
In the backdrop of sluggish progress in cooperation among South Asian nations, the World Bank (WB) is now persuading for specific projects to strengthen regional collaboration in energy, transport, food security and other sectors.
The WB has already started a technical study on different projects and their feasibility to ascertain how those can benefit the region through these sectors.
World Bank Sector Director (South Asian Cooperation) Sadiq Ahmed and WB Bangladesh Country Director Xian Zhu said this during a meeting with Finance Adviser AB Mirza Azizul Islam at the ministry yesterday.
"We talked for a long time on South Asian cooperation, but not on any specific project. World Bank will identify specific project,” Mirza Azizul Islam told newsmen after the meeting.
He said the WB is studying the cost and benefits of projects and ways on the distribution of benefits among the participating countries.
The adviser said the projects will be taken up in such a manner so that all the countries are benefited.
For example, he said, Nepal and Bhutan have huge potentials in hydropower, while Bangladesh and India have
energy deficiency. "If Nepal and Bhutan can generate hydropower, Bangladesh and India can be good customers of that energy.”
"But, such projects require huge investment. The question is who is going to invest... the importing countries, exporting countries or multinational financers?" Mirza Azizul Islam posed a question.
He said the WB invited him to attend the conference on aid effectiveness in Ghana next month.
The WB assured the finance adviser of giving not less than $130 million dollars by midOctober as budgetary support for food security.
World Bank Sector Director (South Asian Cooperation) Sadiq Ahmed told newsmen they also discussed in the meeting on the formation of a food bank.
There is energy deficiency in some countries of South Asia, but there is also huge potential for hydropower in some countries, which can help meet the demands if the potential can be tapped.
Global energy prices are very high and the WB is trying to help these countries cope with energy crisis, Sadiq said.
World Bank Country Director Xian Zhu said the upcoming conference on climate change in London also came up for discussion in their meeting.