Bangladesh Bank (BB) will disburse a green fund of $200 million among green apparel and leather entrepreneurs to promote sustainable energy for sustainable development, Dr Atiur Rahman, the central bank governor said.
"Sustainable energy is crucial for sustainable development, a process that ensures development of the current generation without impeding the development opportunities for the future generation", he said while launching a German funded project - Green Banking for Energy Sustainable Economy - at the Bangladesh Institute of Bank Management (BIBM) Auditorium in the city.
BB has also advised banks and financial institutions to extend finance for solar energy, bio-gas plant, Effluent Treatment Plant (ETP) and Hybrid Hoffman Kiln (HHK) related projects, he noted.
The launching ceremony was organized jointly by the BIBM, GIZ and Sustainable and Renewable Energy Development Authority (SREDA).
Chaired by Dr Thomas Prinz, Ambassador of the Federal Republic of Germany, the discussion was addressed by Professor Dr Toufic Ahmad Choudhury, Director General of BIBM, Professor Dr Ahsan Habib, Team Leader of the project.
To promote sustainable energy in Bangladesh, Dr Rahman said, the government has prepared a Renewable Energy Policy and has undertaken various action plans with the target of generating 5 per cent and 10 per cent of total power production by 2015 and 2020 respectively.
Besides, the government has initiated setting up of a Sustainable and Renewable Energy Development Authority (SREDA) and has also finalized Sustainable Energy Development Act, 2011, he noted
Accordingly, he added, the central bank has undertaken and implemented a good number of initiatives to help implement energy and environment related programs of the government. The use of renewable energy is helpful in limiting harmful green-house gas emission.
"Renewable energy has also received special attention of the central bank since 2010. Bangladesh Bank has introduced 50 green products under 11 categories to be eligible for refinancing facilities available at the central bank", Dr Rahman said.