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Dhaka, December 19, 2007—The World Bank today signed two Emission Reductions Purchase Agreements with Grameen Shakti and IDCOL for installation of Solar Home Systems in Bangladesh.
The World Bank has signed these agreements as Trustee for the Community Development Carbon Fund (CDCF). Under these agreements Grameen Shakti and IDCOL can claim benefits for carbon emission reduction for about 970,000 and 227,000 solar home systems installed in Bangladesh, respectively.
Xian Zhu, World Bank Country Director for Bangladesh, signed the agreements with Dipal Chandra Barua, Managing Director of Grameen Shakti, and M. Ehsanul Haque, Chief Executive Officer of IDCOL.
The objective of these two Clean Development Mechanism (CDM) projects is to contribute to sustainable development through the provision of renewable solar electricity to households not connected to the electricity grid and thereby reduce the greenhouse gas emissions by displacing kerosene and diesel use for lighting and off-grid electricity generation.
The key components of the solar home systems (SHS) include photo-voltaic panels, fluorescent tubes, batteries, installation kits and connections. These projects will contribute to the sustainable development of Bangladesh with a particular emphasis on the rural population, which is generally poorer. The CDM revenue will further accelerate the spread of SHS through assisting Grameen Shakti and IDCOL to cover the risks involved in providing micro-finance to the end-users.
Less than 40% of households are electrified in Bangladesh. This is one of the lowest electrification rates in the world. This program will therefore help government efforts to provide electricity to all households and to promote sustainable development. The photo-voltaic technology is clean and safe and reduces the emission of greenhouse gases.
Contact:
Dhaka: S M Rezwan-ul-Alam (880-2) 8159001, Ext 4242
Email: salam3@worldbank.org
For more information on the World Bank in Bangladesh, please visit:
http://www.worldbank.org.bd
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