
Oct 25, 2023
| BSS | Dhaka Tribune
€350m for climate action investments
€39m for renewable energy projects
Three loan and grant agreements were signed among Bangladesh, European Investment Bank (EIB) and the European Commission (EC) involving €407 million to support the renewable energy sector of Bangladesh in Belgium. Bangladesh Prime Minister Sheikh Hasina along with the EC President Ursula von der Leyen and EIB President Werner Hoyer witnessed the signing of agreements at the European Commission Headquarters in Brussels, the capital of Belgium.

Photo: PID (Bangladesh Prime Minister Sheikh Hasina, EC President Ursula von der Leyen, and EIB President Werner Hoyer witness agreement signings in Brussels, Belgium, on Wednesday, October 25, 2023)
The first agreement “Bangladesh Renewable Energy Facility” was signed between Bangladesh and the EIB for an EU-guaranteed framework loan of up to €350 million to support climate action investments in Bangladesh.
The second one was signed between the EIB and the EC of an EU blending grant of €45 million comprising €6 million of technical assistance to ensure that all sub-projects comply with international market practices and EIB’s environmental and social standards, and of €39 million of investment grant to bring in concessional lending tools to support the first renewable energy utility scales projects in Bangladesh.
The third agreement “Partnership for Green Energy Transition”, signed between Bangladesh and the European Commission costing €12 million and co-financed by Germany, aims to work on policy, legal framework and investment climate to facilitate an inclusive green energy transition.
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