IDCOL wins the Karlsruhe Sustainable Finance Awards 2023

Infrastructure Development Company Limited (IDCOL), a non-bank financial institution under the Economic Relations Division, has been awarded the prestigious "Kalsruhe Sustainable Finance Awards 2023" in the "Outstanding Sustainable Project Financing" category, reads a press release.

According to the press release, the award, given by European Organization for Sustainable Development (EOSD), aims to recognize success in the financing of exemplary projects that benefit local communities, support local economic development and contribute to environmental protection. This is the third time IDCOL received this prestigious accolade from the EOSD.

IDCOL has been awarded for implementing the Improved Cook Stoves (ICS) Program in Bangladesh. IDCOL has been selected as a winner based on the technological features (thermal efficiency) of the stoves, benefits to the users and the contribution to sustainable development. Through R&D, IDCOL is now disseminating Tier 3 (higher than 35%) level efficient stoves. Notably, IDCOL has been implementing the Improved Cook Stoves (ICS) Program since 2013 under which 4.1 million stoves have been installed so far. The program was inaugurated by the Honorable Prime Minister of Bangladesh, Sheikh Hasina MP, in May 2013.

Alamgir Morshed, Executive Director & CEO of IDCOL, expressed his gratitude to EOSD for recognizing IDCOL's efforts. He thanked all stakeholders of IDCOL for their unwavering support and faith in IDCOL. He noted that the award is a testament of the hard work and dedication of the team working in the ICS Program. Mr. Morshed further added that acknowledgments like this inspire IDCOL to keep working for a sustainable future of Bangladesh.