The World Bank (WB) will provide $110 million for Bangladesh’s enterprise development in a bid to ensure green industrialisation.
The Washington-based lender conformed the loan as it signed a deal with the Economic Relations Division (ERD) of the Bangladesh government on Wednesday in Dhaka.
ERD Secretary Kazi Shofiqul Azam and WB Country Director in Bangladesh Qimiao Fan signed the deal in the capital.
Under the ‘Sustainable Enterprise Project’, the government will help some 20,000 microenterprises adopt environment-friendly practices in manufacturing and agribusiness sectors.
From the $110 million funds, it will provide loans to microenterprises for innovative, environmentally sustainable technologies and practices.
Half of the country’s population depends on 7.0 million existing microenterprises for livelihoods. But 90 per cent of these negatively impact the environment. For example, a 2014 survey shows only 6.0 per cent of microenterprises disposed solid wastes properly.
The project will help microenterprise clusters use cleaner technologies and shared amenities to reduce pollution and become less vulnerable to climate change. It will promote basic safety standards, certify ecoâ€labelled products, and introduce new and resourceâ€efficient technologies.
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