Bangladesh PM Tarique Rahman Seeks $2 Billion in Support to Address Energy Crisis

Bangladesh Prime Minister Tarique Rahman has called on development partners to provide $2 billion in assistance to help meet the country’s urgent energy needs and maintain economic stability.

Speaking at the online summit of the Asia Zero Emission Community (AZEC) Plus on Wednesday, the prime minister stressed the need for immediate and coordinated global action.

“The current situation demands urgent measures, unity, and decisive action. Ensuring emergency support for the most vulnerable countries should be at the top of our collective agenda,” he said, urging the international community to respond swiftly and positively.

Highlighting the ongoing global energy crisis, Rahman noted that it has exposed the world’s interdependence and vulnerabilities. “No country can tackle this challenge alone. Strengthening regional energy security and addressing supply disruptions require coordinated and forward-looking steps among Asian nations,” he added.

The prime minister said the crisis is already impacting Bangladesh’s economy, prompting the government to adopt several short-term measures. These include demand management through revised office and market hours, increased emergency fuel imports, maintaining supply through alternative sources, and implementing fuel rationing alongside limits on retail sales.

He also mentioned initiatives such as a “fuel app” aimed at preventing hoarding and panic buying.

Expressing concern, Rahman warned that the scale and consequences of the current crisis could surpass the oil shocks of the 1970s oil crisis, which had stalled development efforts in the 1980s.

He further noted that since gaining independence in Bangladesh Liberation War, Bangladesh has made steady progress in economic growth, poverty reduction, and improving living standards. However, the present crisis poses a real risk of reversing those achievements.

Rahman emphasized that Bangladesh is not alone in facing such challenges, and that a strong, coordinated global initiative is essential—particularly to protect least developed and vulnerable countries from severe economic and social disruptions caused by the energy crisis.

He also thanked Sanae Takaichi, Prime Minister of Japan, for organizing the timely and important summit.

The virtual conference was attended by several regional leaders, including Anwar Ibrahim, along with representatives from Japan, the Philippines, Singapore, Thailand, Vietnam, and Timor-Leste. The closing remarks were delivered by Japan’s Prime Minister.

Prime Minister Rahman joined the summit virtually from the Parliament building, accompanied by Foreign Minister Khalilur Rahman and Foreign Affairs Adviser M Humayun Kabir.