Bangladesh is pushing to secure loans of around $2 billion from multilateral agencies for tackling energy security concerns amid soaring global fuel prices driven by the Mideast war, reports AFP.

The government has already taken several measures to curb fuel consumption, including halting production at most fertiliser factories.

The government has now adopted a three-pronged approach to ensure sustainable energy supply, the prime minister’s finance and planning advisor Rashed Al Titumir said Saturday.

“Part of that is securing loans,” Titumir told AFP.

“The International Monetary Fund (IMF) has committed $1.3 billion, while the Asian Development Bank (ADB) has pledged $500 million as budget support,” Al Titumir said, adding the government was pursuing the loans for early disbursement.

The government may also approach the World Bank.