EU to invest €1b in Bangladesh, plans to double
The European Union (EU) has committed to invest €1 billion in Bangladesh across key sectors including water, energy, transport and health, with plans underway to further double this financing, according to an 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).
"Last week, the EU delegation to Bangladesh welcomed the European Investment Bank, organising stakeholder meetings on ongoing investments and future plans to double financing," EU said in its official Facebook page today.
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An outcome was the first meeting of the Working Review Group under the Bangladesh Renewable Energy Facility, which brought together officials from the Power Division, Team Europe, EIB, and representatives from public utility agencies.
The discussions focused on reviewing ongoing projects and shaping future investment strategies under Team Europe's cooperation framework.
The meeting made progress in identifying specific renewable energy projects for financing under a €350 million EU guaranteed loan from the EIB and a complementary €45 million grant from the EU.
These funds are targeted at scaling up investment in solar and wind energy initiatives across the country.
