Germany to provide Tk3,463cr for development projects in various sectors

Germany will provide EUR339.54 million (approximately Tk3,463.3 crore) for financing development projects in various sectors in Bangladesh.

The two governments on Sunday signed financial and technical agreements in this regard, according to a press release.

Of the total amount captured in these agreements, EUR47.04 million is for technical cooperation and EUR292.5 million is for financial cooperation.

The cooperation under this agreements will take place in the areas of renewable energy and energy efficiency (EUR237.5 million), sustainable urban development (EUR30 million), good governance (EUR5.5 million), displacement and migration (EUR19), training and sustainable growth for decent jobs, (EUR42.5 million) and protection of biodiversity (EUR5.04 million).

Fatima Yasmin, secretary to the Economic Relations Divisions, Ministry of Finance of Bangladesh, and Peter Fahrenholtz, ambassador of the Federal Republic of Germany to Bangladesh, signed the agreements on behalf of the two governments.

The signing ceremony was also attended by high officials from the German Embassy in Dhaka, the German Development Bank KfW, the German technical cooperation agencies GIZ and BGR, as well as from the Bangladesh government.

"Germany has been providing financial and technical assistance for the development of Bangladesh since 1972, which amounts today to a total of over EUR3 billion," says the press release issued by the development partner. 

German–Bangladesh Development Cooperation has a long standing history in supporting infrastructure, health, poverty alleviation, good governance and human rights, energy efficiency and renewable energy, climate change adaptation, it added.

"The present agreement marks the continuation of successful bilateral cooperation that contributes to the Sustainable Development Goals."

"We are glad to continue our support for the Bangladeshi success story," the German ambassador said.