The US Agency for International Development (USAID) is going to inaugurate a multi-year project up to $17 million in Bangladesh, called “Bangladesh Advancing Development and Growth through Energy (BADGE),” subject to the availability of funds.
The US Special Presidential Envoy for Climate John Kerry on his visit focused on several new initiatives from the USAID in India and Bangladesh that will assist fighting climate change by expanding access to clean energy, strengthening climate-resilient infrastructure and promoting clean energy entrepreneurship.
The US Embassy stated the project will not only reduce emissions but also will improve living standards for the people of Bangladesh and will support continued rapid economic growth.
The project will not only reduce emissions but also will improve living standards for the people of Bangladesh and will support continued rapid economic growth, said the US Embassy.
According to the US Embassy in Dhaka, this multi-year initiative will work to expand Bangladeshis’ access to affordable clean energy, support clean energy entrepreneurship, foster transparent and efficient energy markets, and advance innovation.
It is also critical to curbing the country’s carbon emissions, which nearly quadrupled over the past two decades.
Since the initiative’s official launch on 18th March this year, USAID partners have already assembled projects worth $4 million for financing under the guarantee, including 50 solar-powered micro-cold chains in villages, and solar plus storage solutions to power 350 remote rural bank branches.
The USAID has helped Bangladesh for more than two decades, transform the country’s energy sector as well as protect its natural resources, including more than 2.5 million acres of wetlands and forest areas, which contain habitats for the iconic Bengal tiger in the Sundarbans mangroves.