Economic Reporter :
Sustainable development needs to promote inclusive and sustainable financing through four broad areas – agriculture, small and medium enterprises (SMEs), modernization of payment system and adoption of environmentally benign ‘green’ output practices.
Bangladesh Bank Governor Dr Atiur Rahman Tuesday said this while addressing the inaugural session as the chief guest of a daylong conference on “Green Finance for Sustainable Development” and said, “The consultatively set targets for these priority areas are incremental, aimed at raising and stabilizing sustainable financing to adequate levels”.
He said Bangladesh Government and Bangladesh Bank have gained global attention as it is moving ahead fast with facilitation steps for ‘green’ transition to take advantage of upcoming new opportunities in markets for goods and services produced using environmentally sustainable ‘green’ output processes and practices.
BB has lined up a US $200 million longer term fund called ‘Green Transformation Fund’ to support green transition of manufacturing practices in the export oriented textiles and leather sectors, he added.
Bangladesh Solar and Renewable Energy Association (BSREA) organised the conference with assistance of Bangladesh Bank, Sustainable and Renewable Energy Development Authority (SREDA) and Infrastructure Development Company Limited (IDCOL).
Among others, Deputy Governor of Bangladesh Bank SK Sur Chowdhury, Executive Director and Chief Executive Officer of IDCOL Mahmood Malik and SREDA Chairman M Anwarul Islam Sikder spoke on the occasion.
Dr Rahman said despite the insignificant share of global greenhouse gas (GHG) emission compared to other developing and developed countries, Bangladesh fall into the group of most climate change vulnerable countries.
He said Bangladesh Bank has already provided necessary financial support to about 50 green products including biogas, bio-fertilizer and Effluent Treatment Plant (ETP) as the key element of Bangladesh inclusive of socioeconomic development strategy is environmental sustainability and climate change resilience.
He stressed on digitisation in financial sectors as it will minimize the time of financial transaction and make the economic activities paperless which will help us achieve SDGs by 2030.
Highlighting the mobile financial transaction of the country he said the rural economy of the country has been increasing day by day as most of the transaction of rickshaw-pullers and garments workers send their money by mobile phone within a few minutes.
The central bank governor believed that their concerted efforts towards building an environmentally sustainable green economy would position them well to achieve the SDGs well ahead of time as they did in case of the Millennium Development Goals (MDGs).
