Bangladesh Bank Expands Green Refinance Scheme.

Bangladesh Bank (BB) has expanded its refinancing scheme for eco-friendly industries known as green projects, with including members of two major traBangladesh_bankde-associations.

In a circular on Sunday, the central bank said the members of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) and Leather Goods and Footwear Manufactures and Exporters Association of Bangladesh (LFMEA) will be eligible for getting loans from the refinancing scheme.

The green financing offers loan to 47 products coverin g nine sectors currently, a BSS report added.

BB said the members of BPGMEA and LFMEA would also get loans from the revolving fund for improving safety and security at their factories by installing fire extinguishers and water pumps at rooftops and constructing underground water reservoirs.

In August 2009, BB lunched the Tk2 billion green banking refinances schemes to promote renewable energy and renewable energy and environmental friendly projects to help increase the power supply and reduce industrial pollution.

The central bank also issued the policy guidelines for green banking to the schedules banks in February 2011.

47 banks have so far developed their own green banking policy guidelines when many of them signed agreements with the central bank for disbursing loans under the scheme as Participating Financial Institution (PFI).

Originally from the Financial Express

 

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Author: Darvin Tocmo

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