News Column

Bangladesh,United States : BANGLADESH receives further US$78.4 MILLION fund from the IDA for its RERED II Project

July 2, 2014

The Bangladesh Rural Electrification and Renewable Energy Development II (RERED II) Project has secured US$78.4 billion from the International Development Association (IDA), the World Bank Group s soft loan subsidiary, to fund solar home systems (SHS) in Bangladesh.

The government of Bangladesh signed off on the financing, which will help install over 480,000 PV systems in the country. The SHS project is current installing 70,000 systems in Bangladesh every month which is the fastest growing SHS program in the world. Over 3 million systems have already been installed in the country.

This repeater project is building up on our efforts to support the government s vision of providing universal access to electricity, said Arastoo Khan, additional secretary of the economic relations division, Government of Bangladesh, The benefits of using solar homes systems include increased study time for children, empowerment of women through knowledge from TV viewing, income generation from mobile phone recharging services, as well as contribution to emissions reduction as a result of kerosene replacement.

The RERED II Project has supplied clean energy to over 414,000 homes in the country till now, assisting over 2 million people in the process. Over 1,450 biogas plants and 40 solar irrigation plants have also been supported by the undertaking.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters