Nepal and Bangladesh have signed a Memorandum of Understanding (MoU) toenhance cooperation in power sector. Nepal’s Minister for Energy, WaterResources and Irrigation, Barsha Man Pun and Minister of State for Power,Energy and Mineral Resources of Bangladesh, Nasrul Hamid signed the MoU inKathmandu yesterday evening.
The MoU is aimed at increasing collaboration in electricitygeneration, grid connectivity, energy efficiency, renewable energy anddevelopment of hydropower for the mutual and regional benefit. It alsoenvisages encouraging industrialists of Nepal and Bangladesh to invest in thepower sector and tap huge hydropower potential of South Asia by regional andsub-regional cooperation to uplift the living standard of people in the region.
As per the MoU, a Joint Secretary level working group and Secretary-levelsteering committee will be formed to take forward the task of powercooperation. The two bodies will convene their meetings within the next twomonths to determine the future course of action.