People queue up to refuel their motorbikes at a gas station in Dhaka on March 10, 2026.
Bangladesh is pushing to secure loans of around $2 billion from multilateral agencies for tackling energy security concerns amid soaring global fuel prices driven by the Mideast war.
The government has already taken several measures to curb fuel consumption, including halting production at most fertilizer factories.
The government has now adopted a three-pronged approach to ensure sustainable energy supply, the prime minister's finance and planning advisor Rashed Al Titumir said on March 21.
"Part of that is securing loans," Titumir told AFP.
"The International Monetary Fund [IMF] has committed $1.3 billion, while the Asian Development Bank (ADB) has pledged $500 million as budget support," Al Titumir said, adding the government was pursuing the loans for early disbursement.
The government may also approach the World Bank.
"As we want to keep foreign currency reserves intact, we have limited options other than seeking loans," Al Titumir said.
The government is also exploring alternatives for sourcing energy from "North America, South America or Africa."
"We are exploring all available options for alternative energy sources," Al Titumir said.
Bangladesh, which imports 95 percent of its oil and gas needs, has not raised electricity and fuel prices despite the global surge.
