Dhaka: The European Union (EU) has committed to invest one billion Euro in Bangladesh across key sectors including water, energy, transport, and health, with plans underway to further double this financing, according to the EU Delegation to Bangladesh. The announcement came following a series of high-level stakeholder meetings held last week in Dhaka, organised jointly by the EU Delegation and the European Investment Bank (EIB).
According to Bangladesh Sangbad Sangstha, the EU Delegation to Bangladesh recently welcomed the European Investment Bank, organizing stakeholder meetings on ongoing investments of the order of one billion Euro in key sectors such as water, energy, transport, and health. The EU revealed these developments on its official Facebook page, emphasizing its intention to double the financing in the future.
A significant outcome of these discussions was the first meeting of the Working Review Group under the Bangladesh Renewable Energy Facility. This meeting brought together officials from the Power Division, Team Europe, EIB, and representatives from public utility agencies. The discussions were centered on reviewing ongoing projects and strategizing future investments under Team Europe’s cooperation framework.
The meeting made notable progress in pinpointing specific renewable energy projects for financing. The EU has proposed a 350 million Euro EU guaranteed loan from the EIB and a complementary 45 million Euro grant from the EU. These funds are aimed at boosting investment in solar and wind energy initiatives throughout the country.