Economic Reporter :
Bangladesh Bank (BB) Deputy Governor Md. Abul Quasem on Thursday called upon the financial institutions (FIs) to enhance their investment in green products with a view to attaining a sustainable economy.
The financial institutions will have to give at least five per cent of their total credit to the environment-friendly industries by 2016, said the governor while addressing a national seminar on ‘Promoting Green Economy through Green Banking: Bangladesh Perspective’ organized by Bangladesh Institute of Bank Management (BIBM) at its auditorium in the city.
Md. Abul Quasem, also Chairman, Executive Committee of BIBM, said that all the banks and financial institutions have become involved in green financing to build up environment-friendly industries.
Policy makers of both developed and developing countries are focusing on environmental issues like reduction of greenhouse gas emission, minimization of pollution, energy saving and producing renewable energy, he said, adding that the central bank had introduced re-financing schemes for 47 green products.
Addressing the seminar, Dr. Shah Md. Ahsan Habib, Director of BIBM said that the aim of the seminar is to assess the linkage between green banking and green economy in global perspective.
“The goal of sustainable development would not be possible to attain if environmental issues cannot be handled effectively,” said the BIBM director.
About 42 banks disbursed Tk 398 billion under green financing in the fiscal 2014. Of the total finance, 22 per cent disbursed in the renewable energy projects. Around 70 per cent banks are engaged in the direct green financing activities either using own funds or availing refinancing facilities of Bangladesh Bank, he informed.
Helal Ahmed Chowdhury, former Managing Director of Pubali Bank urged the financial institutions to identify the potential green sector where they can disburse their fund for a green economy.
Bangladesh Bank (BB) Deputy Governor Md. Abul Quasem on Thursday called upon the financial institutions (FIs) to enhance their investment in green products with a view to attaining a sustainable economy.
The financial institutions will have to give at least five per cent of their total credit to the environment-friendly industries by 2016, said the governor while addressing a national seminar on ‘Promoting Green Economy through Green Banking: Bangladesh Perspective’ organized by Bangladesh Institute of Bank Management (BIBM) at its auditorium in the city.
Md. Abul Quasem, also Chairman, Executive Committee of BIBM, said that all the banks and financial institutions have become involved in green financing to build up environment-friendly industries.
Policy makers of both developed and developing countries are focusing on environmental issues like reduction of greenhouse gas emission, minimization of pollution, energy saving and producing renewable energy, he said, adding that the central bank had introduced re-financing schemes for 47 green products.
Addressing the seminar, Dr. Shah Md. Ahsan Habib, Director of BIBM said that the aim of the seminar is to assess the linkage between green banking and green economy in global perspective.
“The goal of sustainable development would not be possible to attain if environmental issues cannot be handled effectively,” said the BIBM director.
About 42 banks disbursed Tk 398 billion under green financing in the fiscal 2014. Of the total finance, 22 per cent disbursed in the renewable energy projects. Around 70 per cent banks are engaged in the direct green financing activities either using own funds or availing refinancing facilities of Bangladesh Bank, he informed.
Helal Ahmed Chowdhury, former Managing Director of Pubali Bank urged the financial institutions to identify the potential green sector where they can disburse their fund for a green economy.
