World Bank helps Bangladesh expand access to renewable energy

Jun 1, 2018
The Bangladesh government has signed a $55 million financing agreement with the World Bank to expand renewable energy uses in rural areas.
The agreement was signed by Kazi Shofiqul Azam, secretary of Bangladesh's Economic Relations Division, and Fan Qimiao, Asian Development Bank country Director for Bangladesh, Bhutan, and Nepal on Tuesday, Xinhua news agency reported.
The additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids and about 4 million improved cooking stoves in rural areas, said the Washington-based lender.
Since 2003, the World Bank said it has been helping Bangladesh expand solar-powered electricity in remote and rural areas. Today, the country has one of the world's largest domestic solar power programmes, covering 14 per cent of the population, it said.
"Following a successful demand-driven public-private partnership programme, Bangladesh installed 4.2 million solar home systems," said Fan.
"This additional financing will help scale up use of clean and renewable energy such as solar irrigation pumps and solar mini-grids, which will help reduce poverty, improve the environment, create jobs, and open up new opportunities for rural people." 
With an additional $20 million support from the Green Climate Fund that assists developing countries in adaptation and mitigation practices to counter climate change, the project will scale up the use of improved cooking stoves, which emit 90 per cent less carbon monoxide and use half as much firewood as a traditional cooking stove, said the bank.

Leave a Reply

Your email address will not be published. Required fields are marked *

In northeast India, water-management practices to deal with climate change

In a small village on the north bank of the Brahmaputra in Assam in northeast India, farmer Horen Nath stood gazing at his partially submerged paddy field. The floods had kept their annual date but mercifully, the farmer said, the waters have started receding. "The weather has become very strange of late. We always had ample rain,


IMF cuts India's growth projection, but it still retains world's top spot

The International Monetary Fund (IMF) cut India's growth projections for this fiscal year to 7.3 per cent and for the next to 7.5 per cent on Monday, although the country will still retain i...

Tweets about SAMonitor
SAM Facebook