Dhaka, Oct. 14 -- Bangladesh is improving its power sector and embarking on a multitude of initiatives incentivized by growing urbanization.

Urban areas accommodate about 55% of the world's population and if the current projections are to be taken into consideration, the percentage may increase to 70% by the year 2050. As per those projections, Asia and Africa are experiencing the fastest growing urban agglomerations, as majority of the population in these continents is currently employed in the agriculture sector and resides in small villages or towns - and is now moving towards the major cities.

This creates a huge challenge for the nations existing in these regions as they are expected to cater to the growing needs of the society whi...