Bangladesh has launched a $123 million fund to provide concessional fi nancing for rooftop solar and other renewable energy projects as the government seeks to expand clean power generation and address electricity supply challenges.
The Finance Division has reallocated the funds from the current fi scal year’s development budget.
The Power Division is also seeking additional fi nancing from development partners, including the Asian Development Bank, JICA and the World Bank.
The government aims to install 4 GW of rooftop solar before next summer, with the new fund providing affordable loans for residential, institutional and industrial renewable energy projects.
Infrastructure Development Company Ltd.
(IDCOL), Bangladesh Infrastructure Finance Fund Ltd.
(BIFFL) and Palli Karma-Sahayak Foundation (PKSF) will distribute the fi nancing.
Eligible projects include net-metered rooftop solar systems, solar home systems, industrial solar installations and solar-powered irrigation pumps