PM seeks $2 billion from development partners to tackle energy crisis

Prime Minister Tarique Rahman has sought $2 billion in funding from development partners to meet Bangladesh's immediate energy needs and safeguard its economic stability.

"The situation before us demands urgency, solidarity and decisive action. Immediate support for the most vulnerable countries must be at the top of our collective agenda," he told the Asia Zero Emission Community (AZEC) Plus Online Summit on Wednesday, April 15.

"We urge the international community to respond swiftly and positively to this call," he added.

Highlighting the ongoing global energy crisis, the prime minister said the crisis is a stark reminder of 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.

Tarique Rahman said the energy crisis has already disrupted Bangladesh's economy. "In response, we have taken a range of short-term measures to contain the impact."

He said the measures include demand-side management through the rationing of government office and market hours; stabilising 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 the 'Fuel App'.

The premier said Bangladesh is concerned that the scale and consequences of this crisis could exceed those of the 1970s 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-won gains are in danger, facing the real threat of reversal," he added.

Tarique Rahman said Bangladesh is not alone in facing this risk, "nor can we overcome it through national effort alone". This moment calls for 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.

The prime minister appreciated Japanese Prime Minister Sanae Takaichi for convening the timely and important summit.

Malaysian Prime Minister Anwar Ibrahim, heads of government and state of Japan, the Philippines, Singapore, Thailand, Vietnam, Timor-Leste, and representatives of various countries took part in the online summit. Japanese Prime Minister Sanae Takaichi delivered the concluding remarks.

While Prime Minister Tarique Rahman delivered his speech from his Sangsad Bhaban office in the afternoon, Foreign Minister Dr Khalilur Rahman and Foreign Affairs Adviser M Humayun Kabir were present.