Bangladesh, Germany sign agreements worth €337.2m

Bangladesh and Germany have signed three bilateral agreements Sunday– Technical Cooperation-2016, Financial Cooperation-2016 and Financial Cooperation 2016 (Saidabad-III) at the Economic Relations Division (ERD) at Sher-e-Bangla Nagar. Germany will provide €337.2 million for the implementation of these projects. Economic Relations Division (ERD) Secretary Kazi Shofiqul Azam and German Ambassador to Bangladesh Dr Thomas Prinz signed the agreements on behalf of their respective governments. Under the Technical Cooperation-2016, a total of €31 million will be provided as contribution programs such as renewable energy and energy efficiency program, energy efficiency and integration of solar energy into the grid, prison and justice reform for promoting human rights and preventing corruption, promotion of social and environmental standards in industry, Phase III adaptation of climate change into national and local development planning, Phase II improved coordination of international climate finance, national adaptation plan and nationally determined contribution support program and study and expert fund. Under the Financial Cooperation-2016, a total of €216.20 million will be loaned to IDCOL (2 projects for renewable energy), modernization of energy distribution-smart grid, Phase 1 Climate change-Adapted urban development program and Phase II Financial contribution to attendant measures. An additional €90 million will be loaned to the climate change adapted drinking, water resources management Dhaka (Saidabad Water Treatment Plant Project, Phase III). The implementing agencies of the projects are - Power Division, Local Government Division, WASA and the Ministry of Forests and Environment. High officials from the German Embassy in Dhaka, KfW, GIZ and the government of Bangladesh were present at the signing ceremony. Germany has a long-standing history in supporting Bangladesh's economic infrastructure, health sector, poverty alleviation, good governance and human rights, power transmission and renewable energy, climate change adaptation and higher studies.