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’Climate-resilient cos have higher chances of getting project loans’

The private sector can play a significant role in battling climate change in Bangladesh, and low-carbon, climate-resilient businesses have higher chances of securing project loans from the Private Financing Advisory Network (PFAN), the global clean energy body has said.

The private sector can play a significant role in battling climate change in Bangladesh, and low-carbon, climate-resilient businesses have higher chances of securing project loans from the Private Financing Advisory Network (PFAN), the global clean energy body has said.

“PFAN has supported 675 projects since its inception in 2008. All the projects of PFAN raised a total of USD 1.8 billion. Till December 2020, 94 projects in Asia are in the pipeline,” Peter du Pont, PFAN’s regional coordinator, Asia, said on Tuesday at a webinar, titled ‘Climate and Clean Energy Investment Opportunities in Bangladesh’.

N K A Mobin, the acting President of Dhaka Chamber of Commerce & Industry (DCCI), the joint organiser of the webinar, said the private sector needs to contribute to the paradigm shift needed to avert climate change chaos. “Businesses are already taking action to address climate risks and opportunities by incorporating environmental considerations into decision-making processes,” he said.

For clean energy financing and culture in Bangladesh, he recommended the development of a strategy to slash the gradual dependence on fossil fuel in industries and create a climate change resilience refinancing fund.

Jamorn Teo Hoonsiri, PFAN Advisor, Thailand, said that Bangladesh has huge potential to lure Thai investment in the renewable energy and agriculture sector. “PFAN Thai will focus on facilitating Thai investment into agriculture, renewable energy, tourism, health, energy efficiency and waste and circular economy,” he said.

Shaymal Barman, PFAN Country Coordinator, Bangladesh, added, “Thai strategic investment can look for Bangladesh as a preferred destination in the shrimp export sector and generate a good number of projects in the solar solutions.”

Mohammad Saifullah, Head of Business, ACI Agro link Ltd., Masudur Rahim, CEO of Omera Renewable Energy Limited, and Nancy Nguyen, PFAN Asia Network Support Manager, also spoke at the webinar.

Source: United News of Bangladesh