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International News

Mar 02, 2019
7:50PM

World Bank approves 185 M for Bangladesh renewable energy Project

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The World Bank has approved 185 million US dollars credit to add 310 Megawatt renewable energy generation capacity in Bangladesh and mobilise private sector participation to meet the growing demand for electricity in the country. 

The credit facility will be used to build the first 50 MW phase of a large scale solar panel energy park in the Feni district.

It will be implemented by the Electricity Generation Company of Bangladesh, according to the statement cited by Xinhua news agency. 

The 185 million US dollars credit include 26.38 million dollar loan and 2.87 million dollar grant from the Strategic Climate Fund of the World Bank's Climate Investment Funds. The project will help in better access to cleaner electricity and air by avoiding burning of fossil fuels. 
 

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