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23 April 2024

Business Insider Bangladesh

Germany to provide €191mn for the sustainable development of Bangladesh

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Published: 19:17, 3 September 2023  
Germany to provide €191mn for the sustainable development of Bangladesh

Photo: Collected

Germany will provide 191 million euro ( (about Tk 2215 crore) to Bangladesh in the form of technical cooperation and financial cooperation for the sustainable development of the country.

In this regard, two bilateral agreements on Development Cooperation were signed today between the Governments of Bangladesh and Germany following up on the commitments of the last government negotiations in December 2022.

The total volume of the agreements is 191 million euro of which 55 million euro will be available as Technical Cooperation (TC) and 136 million euro for Financial Cooperation (FC), said a press release on Saturday.

BSS adds: Sharifa Khan, Secretary, Economic Relations Divisions and Jan Janowski, Charg, d'Affaires a.i. of the Federal Republic of Germany in Bangladesh signed the agreements on behalf of the two governments.

The signing ceremony was attended by high officials from the Government of Bangladesh and the German Embassy in Dhaka as well as from officials and experts from the main implementing agencies within German Development Cooperation, i.e. GIZ for the technical cooperation and KfW for the financial cooperation.

The projects focus on Green and Just Energy Transition, Sustainable Urban Development, Sustainable Supply Chains, Biodiversity and Women Empowerment as well as the support for Host and displaced Communities in Cox's Bazar.

The projects under the technical cooperation agreement are 1. Policy Advisory for Promoting Energy Efficiency and Renewable Energy, up to 4 million euro, 2. Energy Efficiency and Grid Integration of Renewable Energy II, up to 2 million euro, 3. Advanced Vocational Training and Promotion of Employment for Female Textile Workers, up to 5 million euro, 4. Energy Efficiency for Sustainable Development, up to 7 million euro, 5. Professional Education in Industrial and Environmental Safety, up to 7 million euro, 6. Innovations for Climate-Smart Urban Development, up to 7 million euro, 7. Programme for Sustainability in the Textile and Leather Sector II, up to 5 million euro, 8. Vocational Training in the Field of Renewable Energy, up to 5 million euro, 9. Supporting the Localisation of National Climate Adaption Targets, up to 3 million euro, 10. Socio-Economic Support for Host and Displaced Communities in Cox's Bazar, up to 5 million euro and 11. Strengthening the National Network of Protected Areas in Bangladesh through Advancing Digital Technology, Citizen Science, Fostering Participation of Women and Youth Involvement and Enhancing Inter-Department Cooperation, up to 5 million euro.

The projects under the Financial Cooperation agreement are 1. Climate Change Adapted Urban Development Programme, Phase V, (UCRIP II), a total of up to 114.5 million euro (including 100 million preferential loan) and 2. Climate Change Adapted Urban Development, Phase VI, a total of up to 21.5 million euro.

Germany has been providing financial and technical assistance for the development of Bangladesh since 1972, which amounts today to over 3 billion EUR.

German - Bangladesh Development Cooperation has a long standing history in supporting climate change adaptation and mitigation, infrastructure, poverty alleviation, good governance and human rights, energy efficiency and renewable energy transition, and recently also the Rohingya and host communities in Cox's Bazar district.

The present agreements mark the continuation of successful bilateral cooperation and will contribute to achieving the SDGs and the Climate Goals of the Paris Agreement. The Federal Republic of Germany operates their technical and financial cooperation activities in Bangladesh through three windows/institutions; GIZ, KfW Development Bank; and BGR.

These institutions are over sighted by the Embassy of Germany in Bangladesh. At present, 23 (twenty three) projects are being financed (loan and grants) by the German government, amounting a total contribution of EUR 452.5 million loan and EUR 161.054 million grant.

Technical Cooperation on 'Strengthening Access to Justice and Legal Reforms (SAJLeR)' signed another technical cooperation on 'Strengthening Access to Justice and Legal Reforms (SAJLeR)' project was signed today between Bangladesh and Germany.

The total available fund for the project is 12.422 million euro which would be implemented by the Ministry of Law, Justice and Parliamentary Affairs.

The objective of the project is to ensure new reform approaches adopted by the justice sector to enable more people in Bangladesh particularly the poor, women, and children to get accountable, efficient and effective justice services.

Monetary Policy Stance
Budget 2020-21