Bangladesh is going to get € 477 million as loan and grant as the country signed several agreements with European Investment Bank (EIB) and the European Commission (EC) in Brussels.
Under three agreements signed among Bangladesh, EIB and EC, Bangladesh will get € 407 million as loan and grant to support renewable energy sector of Bangladesh.
Bangladesh will get € 70 million more as grant under five agreements --- € 30 million for technical and vocational training, € 10 million each for decent work, e-governance, prevention of gender violence and green construction.
Bangladesh prime minister Sheikh Hasina along with the EC president Ursula von der Leyen and EIB president Werner Hoyer witnessed the signing of agreements at the European Commission Headquarters in Brussels, the capital of Belgium.
The first agreement "Bangladesh Renewable Energy Facility" was signed between Bangladesh and the EIB for an EU-guaranteed framework loan of up to € 350 million to support climate action investments in Bangladesh.
The second one was signed between the EIB and the EC of an EU blending grant of € 45 million -- comprising € 6 million of technical assistance to ensure that all sub-projects comply with international market practices and EIB's environmental and social standards, and of €39 million of investment grant -- to bring in concessional lending tools to support the first renewable energy utility scales projects in Bangladesh.
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.