The government approved five renewable and waste-based power generation projects, which combined will produce 223.5 megawatts of electricity. This is part of the government's ambitious plan to generate more than 4100 megawatts of electricity from renewable sources by 2030.
These projects will be environment friendly and 40% investment will be spent to safeguard the environment. Presently, Bangladesh generates 777 megawatts from renewable sources about 3% of total electricity production.
HSBC has structured Bangladesh’s first sustainability loan. This loan was formed targeting sustainable development goal 5: Gender equality, for DBL Group, one of the largest knit garment manufacturers and exporters of Bangladesh.
Sustainability linked loans goal is to improve the borrower's sustainability profile by aligning loan terms to the borrower's performance against pre-established Sustainability Performance Target (SPT) benchmarks.
Under this unique loan agreement, the interest rate is tied to two areas of performance – the increased percentage of female supervisors employed and greenhouse gas emissions reductions.
This loan will enable female leadership growth and help funnel further investment into green initiatives.