Empowering Bangladesh
ICIEC provided USD 38 million in Documentary Credit Insurance Policy to the State Bank of India to support the importation of power generation equipment. Bangladesh’s growing population and expanding economic activity is increasing the country’s energy demand, fast outpacing supply capacity. Many areas of the country face regular blackouts. The agriculture sector is hit hardest by the blackouts, resulting in serious underperformance of the Bengali economy relative to its potential agricultural outputs. ICIEC’s support for the project is bringing critical equipment needed to increase Bangladesh’s power generation capacity. Increased energy for the agriculture sector will in turn enhance food security and economic growth through increased exports of agricultural commodities.