Project Signing: $10 Million Grant for Solar Irrigation in Bangladesh
ID: 953736
Project Signing: $10 Million Grant for Solar Irrigation in Bangladesh
DHAKA, September 30, 2013 ? The Government of Bangladesh signed a $10 million grant agreement today with the World Bank to introduce solar irrigation pumps for farmers. The Solar Irrigation Project will enable installation of more than 1,300 solar powered irrigation pumps covering more than 65,000 bighas of land for rice cultivation. The project will be financed by the Bangladesh Climate Change Resilience Fund (BCCRF), an innovative multi-donor financing mechanism.
The solar irrigations pumps will provide farmers access to clean energy in a comparatively lower cost. Traditionally, Bangladeshi farmers rely on more expensive diesel based irrigation pumps for rice cultivation. By replacing diesel pumps with solar irrigation pumps in areas where grid electricity has not reached, the project will reduce dependence of farmers on diesel supply, which is often erratic and costly particularly in remote rural areas. Reliance on costly diesel imports for irrigation puts a pressure on country?s foreign exchange. 1300 solar irrigation pumps will save $3.2 million in foreign currency every year from displacement of diesel.
"Wider use of solar powered irrigation pumps will help Bangladesh to save foreign exchange in diesel imports. Due to clean and renewable energy used, the project will reduce carbon emission by 10,000 tons every year,? said Christine Kimes, Acting Head, World Bank Bangladesh. "The project will contribute to improve farmers? livelihoods, increase climate change resilience of the agriculture sector and strengthen food security.?
Private sponsors will be responsible for installing, operating and maintaining the solar irrigation pumps. BCCRF will provide up to 50% of the pump costs in grant, while International Development Association (IDA) of the World Bank will provide 30% in concessional credit. Private sponsors are expected to provide 20% of the pump costs as equity.
"The project directly contributes to Government of Bangladesh?s climate change adaptation vision,? said Arastoo Khan, Additional Secretary, Economic Relations Division, Government of Bangladesh. "Wider use of solar irrigation pumps will help the agriculture sector to reduce dependence on diesel imports. Smooth supply of water for irrigation will help to increase agricultural productivity. The solar irrigation pumps will enable us save foreign exchange substantially. However, to popularize the solar irrigation pumps, investment in research and innovation is needed to bring down the upfront cost of the pumps.?
BCCRF has provided $10 million grant in first phase for the solar irrigation project and the total commitment amount for project is $24.5 million in grant financing. The Infrastructure Development Company Limited (IDCOL) will implement the solar irrigation project through private sponsors as part of the Rural Electrification and Renewable Energy Development II (RERED II) Project.
Mr. Arastoo Khan, Additional Secretary, Economic Relations Division and Ms. Christine Kimes, Acting Head, World Bank Bangladesh signed on behalf of the Government of Bangladesh and the World Bank respectively, at the Economic Relations Division in presence of the development partners.
ABOUT BCCRF
The Government of Bangladesh has successfully aligned its development partners to address the country?s climate change challenges by having them establish a multi-donor fund - the Bangladesh Climate Change Resilience Fund. So far, the BCCRF has channeled $189 million in grant funds from seven development partners, namely Australia, Denmark, EU, Sweden, Switzerland, UK and the USA to strengthen resilience to climate change. The Government of Bangladesh is in the driver?s seat and has the authority to decide which projects to fund and how they are to be implemented. On an interim basis, the implementation and administration of the fund is augmented by the World Bank, especially in the areas of ensuring fiduciary transparency and accountability due diligence.
Media Contacts
In Dhaka
Mehrin Mahbub
tel : (+880-2) 8159001
mmahbub@worldbank.org
In Washington
Gabriela Aguilar
tel : +1 (202) 473-8955
gaguilar2@worldbank.org
PresseKontakt / Agentur:
In Dhaka
Mehrin Mahbub
tel : (+880-2) 8159001
mmahbub(at)worldbank.org
In Washington
Gabriela Aguilar
tel : +1 (202) 473-8955
gaguilar2(at)worldbank.org
Datum: 30.09.2013 - 11:31 Uhr
Sprache: Deutsch
News-ID 953736
Anzahl Zeichen: 4641
pressrelations.de – ihr Partner für die Veröffentlichung von Pressemitteilungen und Presseterminen, Medienbeobachtung und Medienresonanzanalysen
Diese Pressemitteilung wurde bisher 348 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Project Signing: $10 Million Grant for Solar Irrigation in Bangladesh"
steht unter der journalistisch-redaktionellen Verantwortung von
The World Bank (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
World Bank Group President Jim Yong Kim today announced the appointments of Mr. Shaolin Yang as Chief Administrative Officer and Mr. Joaquim Levy as Chief Financial Officer for the World Bank Group. The two individuals, each of whom joins the Bank Group with vast financial and management expertise
Government of India and World Bank Sign US$ 50 Million Project to Improve Education & Skills Training for Minority Communities in India ...
The Government of India and the World Bank today signed a US$ 50 million credit for the Nai Manzil: Education and Skills Training for Minorities Project to help young people from minority communities complete their education and gain from market-driven training programs with the aim of improving t
Statement by World Bank Group President on Declaration of End of Ebola Transmission in Guinea ...
World Bank Group President Jim Yong Kim issued the following statement on today?s announcement declaring the end of Ebola transmission in Guinea. "My colleagues and I at the World Bank Group congratulate the government and people of Guinea on reaching this important milestone. They have s
Weitere Mitteilungen von The World Bank
adhoc beraternews: Wissen, Tipps und Trends für Berater ...
(Dresden, 27. September 2013) Zum sechsten Mal wird in diesem Jahr das Magazin adhoc beraternews herausgegeben. Das Heft ist eine Initiative der Elbe-Factoring GmbH und liefert Beratern Wissen, Tipps und Trends für den Arbeitsalltag. Das Titelthema des aktuellen Heftes ist "Chance für einen
Evonik unterstützt syrische Flüchtlingskinder in Jordanien ...
Das Unternehmen spendet 35.000 ? für einen neuen Kindergarten im Flüchtlingscamp Zaatari in Jordanien Vorstandsmitglied Dr. Thomas Haeberle: "Mit der Spende wollen wir einen Beitrag dazu leisten, dass Kinder in Zaatari einen ganz normalen Alltag leben können." Erneute Zu
Präsentation des Datenverschlüsselungssticks IndependenceKey im Computerclub 2 ...
Spähangriffe auf Firmeninformationen verhindern: TV-Interview mit Intellicomp-Geschäftsführer Christian Nowitzki Großostheim, 30. September 2013 - Der von Mehrwertdistributor Intellicomp angebotene Verschlüsselungsstick IndependenceKey ist in Zeiten von NSA-Spähangriffen ein wichtiges Se
Mit Sicherheit unter den besten Zwölf ...
Die Nominierten für den Deutschen Arbeitsschutzpreis 2013 stehen fest Wenn am 5. November 2013 der Deutsche Arbeitsschutzpreis vergeben wird, dürfen zwölf Bewerber besonders gespannt sein. Denn sie haben es mit ihren Konzepten oder Produkten für mehr Gesundheit und Sicherheit am Arbeitsplat
