The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on May 29 a Memorandum of Understanding (MOU) on strategic cooperation with the government of the People's Republic of Bangladesh to coincide with the visit to Japan by Chief Adviser Muhammad Yunus.
This MOU is an agreement for future cooperation to realize a project to install prepaid gas meters for households in Bangladesh. The project, to be implemented by the national gas utility company, will promote the country’s energy transition.
Bangladesh established its Nationally Determined Contributions (NDC), an action plan that addresses climate change under the Paris Agreement, and has been working to reduce greenhouse gas (GHG) emissions. As efficient energy use is crucial to these efforts, excessive gas consumption in the country’s households has become one of the key challenges. To address this issue, introducing prepaid gas meters in households is a practical measure to shift from the current flat-rate system to a usage-based billing system.
In the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth, supporting efforts toward global green transformation (GX) and energy transitions based on countries' diverse pathways to carbon neutrality. The signing of the MOU is in line with the Medium-Term Business Plan of JBIC.
As Japan’s policy-based financial institution, JBIC will continue to financially support the creation of business opportunities and promote business by Japanese companies in Bangladesh’s energy sectors, and further deepen and develop the economic ties between Japan and Bangladesh.
