Germany to give 340m euro as development fund

Diplomatic Correspondent

22 June, 2021 12:00 AM printer

Germany to give 340m euro as development fund

Economic Relations Division (ERD) Secretary Fatima Yasmin and Federal Republic of Germany Ambassador to Bangladesh Peter Fahrenholtz pose for a photo after signing an agreement in the capital on Sunday

Germany will provide Bangladesh 339.53 million euro (Tk 3,463.3 crore) million) to implement several development projects in areas of energy, urban development, migration, biodiversity and good governance in Bangladesh.

Bangladesh and Germany signed financial and technical agreements in Dhaka on Sunday.

The agreements followed the fruitful negotiations of the two governments held at the end of 2020.

Fatima Yasmin, secretary at Economic Relations Divisions of Bangladesh, and Peter Fahrenholtz, German Ambassador to Bangladesh, signed the agreements on behalf of their respective sides.

Of the sum, 47.04 million euro will be given as technical cooperation and 292.5 million euro as financial cooperation, said a press statement released by the German embassy in Dhaka.

The cooperation under the agreements will take place in the areas of renewable energy and energy efficiency at 237.5 million euro, sustainable urban development at 30 million euro, good governance at 5.5 million euro, displacement and migration at 19 million euro, training and sustainable growth for decent jobs at 42.5 million euro and protection of biodiversity at 5.04 million euro.

The signing ceremony was also attended by high officials from the German Embassy in Dhaka, the German Development Bank KfW, the German technical cooperation agencies GIZ and BGR, as well as from the Government of Bangladesh.

Germany has been providing financial and technical assistances for the development of Bangladesh since 1972, which amounts today to a total of over 3 billion euro. German–Bangladesh Deve-lopment Cooperation has a long standing history in supporting infrastructure, health, poverty alleviation, good governance and human rights, energy efficiency and renewable energy, climate change adaptation.

The present agreement marks the continuation of successful bilateral cooperation that contributes to the Sustainable Development Goals.

“We are glad to continue our support for the Bangladeshi success story,” said the German Ambassador.