LOANS & CREDITS March 1, 2019

Bangladesh: Scaling-up Renewable Energy Project

WASHINGTON, March 1, 2019 - The World Bank’s Board of Executive Directors today approved financing for the following project:

Scaling-up Renewable Energy Project

IDA Credit: US$156 million

Terms: Maturity = 30 years, Grace period = 5 years

Strategic Climate Funds: US$29 million

Terms: Maturity = 40 years, Grace period = 10 years

Project ID: P161869

Project Description:  The project will add up to 310 Megawatt (MW) in renewable energy generation capacity in Bangladesh and will help mobilize up to $212 million private sector participation to meet the growing demand for electricity in the country. The project aims to increase installed capacity of renewables through piloting and expanding investments in key market segments. The project will help provide better access to cleaner electricity as well as  air by avoiding burning fossil fuels. It will help cut emissions by 377,000 tons of carbon dioxide equivalent a year. The project will support the Infrastructure Development Company Limited (IDCOL) with development of the Renewable Energy Financing Facility and provide resources to build market capacity and develop a pipeline of renewable energy projects. 


Contacts

Washington
Elena Karaban
(202) 473-9277
ekaraban@worldbank.org
Dhaka
Mehrin Ahmed Mahbub
(880-2) 8159001
mmahbub@worldbank.org
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