Dhaka, June 19 -- The World Bank's Board of Executive Directors on Thursday approved two projects totalling $640 million to help Bangladesh improve gas supply and air quality.

The global lender approved $350 million for the "Energy Sector Security Enhancement Project," which will help improve gas supply security by facilitating access to cost-effective financing for Petrobangla, the state-owned oil and gas company.

The project will utilise an IDA guarantee to mobilise up to $2.1 billion in private capital over seven years for new Liquefied Natural Gas (LNG) imports. The backing of an IDA guarantee will improve Petrobangla's creditworthiness to secure LNG supplies.

Imported LNG accounts for over one-fourth of total gas consumption in Ba...