Bangladesh gets approve Green Climate Fund of $256 million
Author: indiadmin November 20, 2020
The financing is provided as an integrated package for textile and Ready Made Garments (RMG) sectors of Bangladesh are the largest industrial contributors in carbon emission.
The Green Climate Fund has approved dollar 256 million for Bangladesh in grants and loan to meet its Green House Gas (GHG) emission reduction targets under the Paris agreement.
The two sectors combined together contribute more than 27 percent of the industrial carbon emission as they are working with old and outdated machines with poor energy management. By 2030, Bangladesh is committed to reduce its GHG emission by 15 percent compared to business-as-usual scenario.
The funding will facilitate capacity building, awareness raising, policy development and support in loan disbursal and evaluation of programme parameters to textile and RMG sectors in Bangladesh.