DHAKA: The World Bank (WB) signed an agreement to provide $78.4 million loan for developing energy sector of Bangladesh.

They signed the contract under Rural Electrification and Renewable Energy Development project at a meeting at Planning Commission’s NEC-2 seminar room at Sher-e-Bangla Nagar in city on Monday noon.

Economics Relations Division Additional Secretary Arastu Khan on behalf of the government and World Bank acting country director Christine E Kimes signed the deal.

They said additional 4.80 lakh solar system would be installed by which all people of the country would be blessed with power by 2021.

Solar energy power would be available in the remote area where power distribution is difficult and expensive.

BDST: 1740 HRS, JUN 30, 2014