Japanese Mitsubishi Research Institute Inc. and Sustainable Renewable Energy Development Authority (SREDA) inked a deal on Saturday for efficient use of energy with rational costs across Bangladesh.
Under the deal, the Japanese firm will provide consultation and facilitate implementing the Energy Efficiency and Conservation Promotion Financing Project and disburse loan worth US$300 million in two phases.
Dr Kotaro Nagasawa of the Japanese consulting firm and SREDA's project director Md Rezaul Haq inked the deal on behalf of their respective sides.
State minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid was the chief guest at the deal signing ceremony at IEB auditorium in the city.
SREDA has been providing loans to different industries and entrepreneurs through Infrastructure Development Company Ltd and Bangladesh Infrastructure Finance Fund to ensure efficient use of energy at an interest rate of 4.0 per cent under the project.
Speaking on the occasion Mr. Hamid urged SREDA to encourage the use of electric vehicles (EVs) in the country like that of neighbouring India.
SREDA can discuss with Bangladesh Road Transport Authority and prepare a necessary policy to offer incentives like waiver of tax or value added tax against the import of EVs. Building awareness among people and expanding training facilities is also necessary, he said.
The government has a plan to conserve energy by 15 per cent within 2021 and by 20 per cent within 2030 under the seventh five-year plan.
Under the Energy Efficiency and Conservation Master Plan up to 2030, the industrial sector can conserve energy by up to 31 per cent and households by 35.9 per cent.
Currently, the industrial sector consumes around 48 per cent and the households around 30 per cent of the country's total energy, according to SREDA.
© 2024 - All Rights with The Financial Express
