A Memorandum of Understanding (MoU has been signed between Bangladesh and Nepal to increase cooperation in the power sector.
The MoU includes Bangladesh’s import of hydro-electricity from Nepal through India and its investment in Nepal’s power sector.
Nasrul Hamid, state minister for power, energy and mineral resources of Bangladesh, and Barsha Man Pun Ananta, Nepal’ minister for energy, water resources and irrigation, signed the MoU in Kathmandu on Friday afternoon.
Bangladesh state minister thanked the Nepal side for signing the MoU and said, “It was signed after a long wait.”
Focusing on the friendly relations between the two countries, the state minister said both sides should increase cooperation for development in power and communications sectors.
“Nepal has the prospects of producing 40,000MW of hydropower that Bangladesh is going to import. On the other hand, Bangladesh’s state-run and private companies can invest in future projects in Nepal,” said Hamid.
Nepalese minister Barsha Man Pun Ananta said his country imports 400MW electricity from India but has set a goal to produce 15,000MW hydropower in 10 years, which is being implemented.
He also spoke about investment prospects in Nepal and the possibility of trading in power.
Nasrul Hamid paid a courtesy visit to Nepalese Prime Minister KP Sharma Oli on Friday and held a bilateral meeting with the Nepalese energy minister before signing the MoU.
According to the MoU, a working group and a steering committee will work to increase the cooperation in the power sector between the two countries.