Germany to provide 191 million euros for sustainable development of Bangladesh

Germany will provide 191 million euros to Bangladesh for sustainable development projects and women empowerment, Dhaka Tribune reported

Dhaka: Germany will provide 191 million euros to Bangladesh for sustainable development projects and women empowerment, Dhaka Tribune reported.

In this regard, Germany and Bangladesh signed two bilateral agreements on Sunday with the projects focused on Green and Just Energy Transition, Sustainable Urban Development, Sustainable Supply Chains, Biodiversity and Women Empowerment as well as the support for Host and Displaced Communities in Cox´s Bazar.

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The German embassy stated that the total volume of the agreements is Euros 191 million of which Euros 55 million will be available for Technical Cooperation (TC) and Euros 136 million for Financial Cooperation (FC).

Sharifa Khan, secretary of economic relations divisions, Ministry of Finance of Bangladesh and Jan Janowski, charg d’affaires of the German embassy in Bangladesh signed the agreements on behalf of the two governments.

The signing ceremony was attended by high officials from Bangladesh and the German Embassy in Dhaka as well as from officials and experts from the main implementing agencies within German Development Cooperation, GIZ, for the technical cooperation and KfW for the financial cooperation, as per Dhaka Tribune.

German Bangladesh Development Cooperation has a long-standing history in supporting climate change adaptation and mitigation, infrastructure, poverty alleviation, good governance and human rights, energy efficiency and renewable energy transition, and recently also the Rohingya and host communities in Cox’s Bazar district.

The present agreements mark the continuation of successful bilateral cooperation and will contribute to achieving the SDGs and the Climate Goals of the Paris Agreement, the embassy said, according to Dhaka Tribune.

Germany is one of the biggest export markets for Bangladesh and the two countries bilateral trade volume (ca 8 billion euros in 2021) is growing steadily. This is encouraged by EU tariff preferences granted under the Everything but Arms arrangement.

Over 90 per cent of Bangladeshi exports to Germany are textiles. Deep-frozen foodstuffs and leather products are also exported. Meanwhile, Bangladesh imports machinery as well as chemical products and electrical goods from Germany.