Experts at a recent seminar emphasized Bangladesh’s urgent need for a long-term financing roadmap to expand renewable energy and achieve net-zero carbon emissions by 2050. They highlighted the necessity for monetary policies that encourage commercial lenders to invest in renewables. The suggested approach includes collaboration between state-owned and private banks for large-scale project financing, as the current reliance on fossil fuels is both costly and environmentally harmful. Presently, renewables contribute just 4% to power generation, with local banks able to meet only 9% of future financing needs if trends persist. Industry leaders also noted that while renewable projects can become financially viable within four years, international agencies often take over financing at later stages, causing challenges for local banks. Progress in sustainable finance is improving, but experts call for fixed financing targets and greater prioritization of renewables.
Source for more details:
