Economic Reporter :
The World Bank will provide $185 million to Bangladesh to add up to 310 Megawatt (MW) in renewable energy generation capacity and mobilize private sector participation to meet the growing demand for electricity in the country.
“The Economic Relations Division (ERD) Secretary Monowar Ahmed and World Bank Acting Country Director for Bangladesh and Bhutan Dandan Chen will sign the loan agreement for the “Bangladesh Scaling-up Renewable Energy Project” on behalf of their respective sides on Thursday at the NEC-2 Conference Room in the city’s Sher-e-Bangla Nagar,” said an ERD official.
The official said that the $185 million credit also includes a $26.38 million loan and a $2.87 million grant from the Strategic Climate Fund (SCF) of the World Bank’s Climate Investment Funds (CIFs).
The credit from the World Bank’s International Development Association (IDA), which provides concessional financing, has a 30-year term, including a five-year grace period, and an interest rate of 1.25 percent with a service charge of 0.75 percent.
The SCF loan is on Scaling-up Renewable Energy Programme (SREP) Loan terms and has a maturity of 40 years, including a grace period of 10 years.
The ERD official said the Scaling-up Renewable Energy Project will increase installed capacity of renewable through piloting and expanding investments in key market segments.
The World Bank will provide $185 million to Bangladesh to add up to 310 Megawatt (MW) in renewable energy generation capacity and mobilize private sector participation to meet the growing demand for electricity in the country.
“The Economic Relations Division (ERD) Secretary Monowar Ahmed and World Bank Acting Country Director for Bangladesh and Bhutan Dandan Chen will sign the loan agreement for the “Bangladesh Scaling-up Renewable Energy Project” on behalf of their respective sides on Thursday at the NEC-2 Conference Room in the city’s Sher-e-Bangla Nagar,” said an ERD official.
The official said that the $185 million credit also includes a $26.38 million loan and a $2.87 million grant from the Strategic Climate Fund (SCF) of the World Bank’s Climate Investment Funds (CIFs).
The credit from the World Bank’s International Development Association (IDA), which provides concessional financing, has a 30-year term, including a five-year grace period, and an interest rate of 1.25 percent with a service charge of 0.75 percent.
The SCF loan is on Scaling-up Renewable Energy Programme (SREP) Loan terms and has a maturity of 40 years, including a grace period of 10 years.
The ERD official said the Scaling-up Renewable Energy Project will increase installed capacity of renewable through piloting and expanding investments in key market segments.
