Bangladesh Launches $29 Million Fund For Green Energy
Date: 06-Aug-09
Country: BANGLADESH
Author: Reuters
DHAKA - Bangladesh's central bank has launched a 2 billion taka ($29 million) refinance scheme for renewable energy in an effort to help ease power and gas crisis and reduce pollution.
A maximum 100 percent refinance facilities will be provided to the commercial banks against their lending to solar projects, bio-gas plants in rural and urban areas and effluent treatment plants for industries, said a central bank circular.
Under the new scheme, the central bank would provide loans to banks at five percent (bank rate) interest rate.
The banks will charge up to 9 percent interest on such lending to their clients. If banks channelized the fund through non-government organizations (NGOs) linkage under credit wholesaling, the rate of interest will be 10 percent.
