The World Bank will loan 350-million dollars to Bangladesh for a power plant to address electricity shortages. World Bank officials and the Bangladeshi government signed the deal on Thursday.
The 300 megawatt gas turbine power plant will be built in Siddhirganj, near the country's capital, Dhaka. It will be operational in 2011.
World Bank official Zahid Hussain says the project will be an important part of the solution leading to sustainable provision of energy services, and will help Bangladesh continue to expand electricity access to the poor.
Power outages are common in Bangladesh -- with homes, factories and shops sometimes going without electricity for hours a day.