PM seeks $2b external support to tackle energy crisis

Warning that the energy crisis has already taken a toll on
Bangladesh's economy, Prime Minister Tarique Rahman today (15 April) sought a
$2 billion fund from development partners to help overcome the crisis and
stabilise the economy.
"The situation before us
demands urgency, solidarity and decisive action," he said while addressing
the Asia Zero Emission Community (AZEC) Plus Online Summit.
The prime minister said immediate
support for the most vulnerable countries must be at the top of the collective
agenda of the summit.
"In this regard, Bangladesh is seeking to mobilise $2
billion from development partners to meet our immediate energy needs and
safeguard our economic stability. We urge the international community to
respond swiftly and positively to this call," he said.
The prime minister said the current
global energy crisis is a stark reminder of global communities' shared
vulnerability and interdependence.
No nation – regardless of its size
or strength – can overcome this challenge in isolation, he said, adding that it
demands a coordinated and forward-looking Asian response to strengthen regional
energy security, address immediate supply disruptions, and support the most vulnerable
countries.
"The energy crisis has already
disrupted Bangladesh's economy. In response, we have taken a range of
short-term measures to contain the impact," Tarique said.
He said the measures include demand-side management through the rationing of government
office and market hours; stabilisation of fuel supplies through emergency
imports and diversification of sourcing; and consumption controls, including
fuel rationing and limits on retail sales to prevent hoarding and panic buying
through initiatives such as 'Fuel App'.
The prime minister said Bangladesh
is concerned that the scale and consequences of this crisis could exceed those
of the 1970's oil shock, which triggered a decade of stalled development in the
1980s.
Since gaining independence in 1971,
he said Bangladesh has worked relentlessly to drive economic growth, lift
millions out of poverty, and improve the quality of life for its people.
"Today, these hard-earned gains are in danger, facing the real threat of
reversal."
The prime minister said Bangladesh
is not alone in facing this risk, nor can the country overcome it through
national effort alone.
"This moment calls for a
decisive and coordinated global action, to contain the impact of the ongoing
energy crisis, particularly to protect vulnerable countries, including the
Least Developed Countries (LDCs), from its severe economic and social
impact," he said.
Tarique Rahman appreciated Japanese
Prime Minister Sanae Takaichi for convening this timely and important
Summit.
Tarique Rahman addressed the AZEC
Plus Online Summit from his Bangladesh Parliament Secretariat office.
Bangladesh Foreign Minister
Khalilur Rahman and PM's Foreign Affairs Adviser Humayun Kabir were present.
Heads of state and governments of
various countries, including Prime Minister of Japan Sanae Takaichi, also
virtually spoke on the occasion.
Heads of the government and the
representatives of different countries, including India, Sri Lanka, the
Philippines, Malaysia, Singapore, Thailand, Vietnam, Timor-Leste, the Republic
of Korea (ROK), Australia, Brunei, Cambodia and Indonesia, participated in the
online summit.
The organisations from which
representatives joined the session are International Energy Agency (IEA) and
Asian Development Bank (ADB).
















