UNB :
The French Development Agency (AFD) and the government of Bangladesh have signed a grant financing agreement of EUR 12 million or around Tk 1.24 billion to support advanced digital solutions in the power and energy sector in Bangladesh.
This agreement is part of a larger multi donor project involving the joint commitment of AFD and the European Union (EU), for a total investment of EUR 112 million.
The project, called “Power Factor Improvement and Smart Grid under Dhaka Power Development Company (DPDC) Dhaka, Bangladesh” is the first ever smart grid project in Bangladesh and will be implemented over the next 5 years, said a media release.
EU Ambassador to Bangladesh Rensje Teerink said the European Union is committed to supporting Bangladesh in adopting advanced digital solutions in power distribution, in view of a sector decarbonisation, thanks to the joint effort with one of our Member States, France.
“This project is also relevant for the Team Europe Initiative on Green Energy Transition, which involves the EU, its Member States and like-minded partners. It aims at supporting Bangladesh in its transformative, low-carbon development, through an increased use of renewable energy and energy efficiency enhancement.”
Benoit Chassatte, AFD Country Director said for AFD in Bangladesh, 2020 was an opportunity to amplify existing commitments to modernize Dhaka’s power grid.
