Global Gateway: Bangladesh, EU sign €400m partnership for renewable energy | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Friday
June 13, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
FRIDAY, JUNE 13, 2025
Global Gateway: Bangladesh, EU sign €400m partnership for renewable energy

Economy

UNB
25 October, 2023, 05:30 pm
Last modified: 25 October, 2023, 06:19 pm

Related News

  • EU reaffirms commitment to safeguarding environment
  • Election date entirely Bangladesh's decision; which parties will join polls also their own decision: EU envoy
  • EU to set out plans to halt Russian gas imports by end-2027
  • EU envoy visits BRAC University to explore scope of educational partnerships
  • EU backs democratic oversight in Bangladesh's financial governance

Global Gateway: Bangladesh, EU sign €400m partnership for renewable energy

The agreement was signed for implementing renewable energy generation projects by the Power Division

UNB
25 October, 2023, 05:30 pm
Last modified: 25 October, 2023, 06:19 pm
FILE PHOTO: European flags fly outside the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman/File Photo
FILE PHOTO: European flags fly outside the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman/File Photo

President of the European Commission Ursula von der Leyen together with Prime Minister Hasina on Wednesday launched the negotiations on a new Partnership and Cooperation Agreement to expand and develop the relationship between the EU and Bangladesh at the Global Gateway Forum.

On this occasion, the EU, the European Investment Bank (EIB) and Bangladesh signed agreements worth €400 million for renewable energy projects to contribute to a sustainable green transition of Bangladesh's power sector. It is also aimed at meeting the country's climate mitigation targets.

Five additional cooperation actions, worth €70 million, supporting education, decent work, green construction, e-governance and the prevention of gender-based violence were also launched.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Speaking in Brussels, President Ursula von der Leyen said: "The EU and Bangladesh have been reliable and trusted partners for 50 years. Now, we are taking this partnership even further, to reap the opportunities of the green transition under Global Gateway. The European Commission, the EIB and Bangladesh will join forces to support renewable energy and tackle climate change. This €400 million investment will make a difference for the people of Bangladesh and its economy".

Prime Minister Sheikh Hasina said: "We are confident that this initiative will enable developing countries such as Bangladesh to fight climate change, to address infrastructure gaps, invest in renewable energy, digital innovation, healthcare, education and much more. The Global Gateway is a sign of friendship, of partnership, of trust, of symbiotic interdependence".

Driving the energy transition, the €400 million partnership announced between the EU and EIB (€395 million) for renewable energy projects include an EU-guaranteed EIB loan of €350 million, complemented by a blending support package of €45 million that includes technical assistance and an investment grant.

In addition, an accompanying Green Energy Transition project worth €12 million which includes €7 million that is co-financed by Germany aims to work on policy, legal framework and investment climate to facilitate an inclusive green energy transition.

Projects will contribute to boost access to energy and rural development throughout Bangladesh, consisting mainly of utility-scale solar photovoltaic and onshore wind projects, and potentially associated battery energy storage systems.

The operation is expected to contribute to the installation of an estimated 750 MWp of new renewable energy capacity in Bangladesh.

The investments are also likely to improve power distribution and decentralisation, eventually increasing national and, potentially regional, connectivity and resilience.

As part of the technical assistance, the EU will help to examine project proposals including ways of combining energy production and food production on the same plot of land, solar, hybrid solar/wind, and solar with battery.

Solar projects and onshore wind projects will be connected to the national grid under the supervision of the Ministry of Power, Energy and Mineral Resources.

The Partnership for Green Energy Transition will help create a Bangladeshi legal framework that fosters investment for the inclusive green energy transition and will also improve employment opportunities for female professionals in the energy sector.

At the Global Gateway Forum, an additional €70 million package in cooperation actions were signed between the EU and Bangladesh in support of the education sector (€30 million), to promote the decent work agenda, to scale up green construction, to boost effective digital governance, and to prevent gender-based violence in public spaces in the country (€10 million in each case).

This year marks the 50th anniversary of the EU-Bangladesh diplomatic relations. In this time, the EU has been a trusted development, trade and humanitarian partner to Bangladesh.

The relations between the EU and Bangladesh have grown stronger over these five decades to become multidimensional, encapsulating politics, trade, development, climate change and connectivity.

The Global Gateway Forum brings together for the first time an assembly of government representatives from the European Union and across the globe, alongside key stakeholders from the private sector, civil society, thought leaders, financial institutions, and international organisations to promote global investment in infrastructure – hard and soft – to deliver on the SDGs and sustainable growth and resilience worldwide.

Global Gateway is the EU's positive offer to reduce the worldwide investment gap and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems.

The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions.

Together, they aim to mobilise up to €300 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.

Bangladesh

European Union / European Investment bank

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Taskeen Ahmed, DCCI president. Illustration: TBS
    'Will boost business confidence': DCCI welcomes agreement between Yunus-Tarique on election
  • Sketches: TBS
    How an escalating Iran-Israel conflict could impact Bangladesh
  • News of The Day, 13 JUNE 2025
    News of The Day, 13 JUNE 2025

MOST VIEWED

  • Wreckage of a Boeing 787 Dreamliner showing part of its registration "VT-ANB" in Ahmedabad, India, June 12, 2025. REUTERS/Amit Dave
    Air India Dreamliner crashes into Ahmedabad college hostel, kills over 290
  • File Photo of Chief Adviser Muhammad Yunus: UNB
    Prof Yunus to receive Harmony Award from King Charles today
  • Energy adviser Fouzul Kabir Khan with other government officials during a visit to Sylhet gas field on 13 June 2025. Photo: TBS
    I would disconnect gas supply to every home in Dhaka if I could: Energy adviser
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Bangladesh mulls settlements with tycoons over offshore wealth: BB governor tells FT
  • UCB declares no dividend for 2024 to comply with regulatory requirement
    UCB declares no dividend for 2024 to comply with regulatory requirement
  • UK Prime Minister Keir Starmer, Chief Adviser Muhammad Yunus
    Disclosure of unconfirmed Yunus-Starmer meeting shows ‘diplomatic imprudence’: Analysts

Related News

  • EU reaffirms commitment to safeguarding environment
  • Election date entirely Bangladesh's decision; which parties will join polls also their own decision: EU envoy
  • EU to set out plans to halt Russian gas imports by end-2027
  • EU envoy visits BRAC University to explore scope of educational partnerships
  • EU backs democratic oversight in Bangladesh's financial governance

Features

Photos: Collected

Kurtis that make a great office wear

3h | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

2d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

3d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

4d | Features

More Videos from TBS

Did the possibility of an Iran nuclear deal set back after the attack?

Did the possibility of an Iran nuclear deal set back after the attack?

1h | TBS World
IRGC chief Major General Hossein Salami killed in Israeli strike

IRGC chief Major General Hossein Salami killed in Israeli strike

2h | TBS World
'Historic' meeting between Yunus and Tarique underway in London

'Historic' meeting between Yunus and Tarique underway in London

5h | TBS Today
Iran warns Israel of severe retaliation

Iran warns Israel of severe retaliation

6h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net