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  • Nepal signing energy cooperation agreement with Bangladesh

     

    Kathmandu, July 4 :  The government of Nepal is preparing to sign an energy cooperation agreement with the government of Bangladesh in its bid to attract more foreign investment and expand hydropower market.

    The Ministry of Energy, Water Resources and Irrigation has already sent a letter to the Bangladeshi counterpart to decide a date for the agreement.

    Likewise, the Cabinet has also endorsed the decision for the agreement. The two countries have also exchanged the draft.

    The Ministry’s spokesperson Dinesh Kumar Ghimire says it had decided to sign the agreement around six months ago and written to the Dhaka government to fix a convenient date then. However, the Bangladeshi government did not give any response, forcing Nepal to resend the letter, according to him.

    He adds that the agreement will facilitate the involvement of Bangladeshi investors in Nepali projects and the trade of Nepali power with Bangladesh. Currently, Bangladesh purchases 600 megawatt electricity from India.

    So far, Nepal has signed such agreements with India and China. The one with China was signed just few weeks back when Prime Minister KP Sharma Oli visited Beijing.

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