As the Mideast crisis stokes concern about fuel security, Bangladesh's state-run energy corporation Petrobangla has requested an additional US$250-million loan guarantee from the World Bank to augment liquefied natural gas (LNG) imports, officials say.
The fresh fund request would add up to an existing $350-million guarantee facility approved last year.
The total fund support from World Bank's concessional lending arm, IDA, would come to $600 million for the country's energy-security program, Energy and Mineral Resources Division (EMRD) officials said recently.
Bangladesh government's move is part of a strategic shift to stabilize energy supply as the raging Middle-East conflict might affect the energy security following the depleting domestic gas reserves, they said.
Earlier on December 23 last year, the government of Bangladesh signed deal with the WB for getting the IDA's $350-million-loan guarantee for purchasing LNG from the global spot market.
