Bangladesh and AFD (Agence Française de Développement) have signed a €560, 000 grant in favour of energy efficiency in the industry.
Together with the AFD and the Governement of Bangladesh, Marie Masdupuy, Ambassador of France in Bangladesh, co-signed the grant agreement on Thursday.
In 2021, AFD and the Bangladesh Infrastructure Finance Fund Limited (BIFFL) entered into collaboration to support energy efficiency initiatives in the industry, according to a Facebook post shared by the France Embassy in Dhaka.
This project is based on a €50 million loan from AFD to BIFFL that can be on-lent to its eligible clients of the private sector. The goals of the project are to facilitate the purchase of Energy Efficient equipment, encourage the commissioning of renewable energy power plants and incentivise women entrepreneurship.
Supporting the ‘Green Energy Transition’ in Bangladesh is one of the priorities of France and AFD, it says.