The government of Bangladesh is entering an agreement with Nepal that includes investment in hydropower projects. With this, the country will be able to import more electricity.

Reports revealed that Bangladesh is currently facing an energy crisis and is searching for partners in the region to meet its growing demand for electricity. Although power generation in the country has increased almost 200% in the last eight years, around 33% of its population still does not have access to such a power source. Now, Dhaka aims to provide electricity to all homes by 2021.

According to the country’s current State Minister for Power, Energy and Mineral Resources, Nasrul Hamid, the deal is going to be signed by next month. He also said that his government has already made a similar proposal to Bhutan. During a press meeting in Dhaka, he stated:

“India has agreed to allow Bangladesh to use its land in order to import electricity from Bhutan and Nepal.”

Nepal’s Ministry of Finance has already started a campaign that calls for commitments for hydropower investment in the country, which so far has been receiving an overwhelming response. According to the ministry, commitments have already reached 2.43 billion rupees from 27 companies and 24,249 individuals.

Currently, Bangladesh imports 600 MW of electricity from India, but it aims to eventually import 10,000 MW from neighboring countries. For the hydropower projects, they are stated to take five to seven years to be able to produce electricity of this amount.