Bangladesh Bank Governor puts thrust on green growth
05 March 2015, Nirapad News: Bangladesh Bank Governor Dr. Atiur Rahman Thursday inaugurated Energy Efficiency Engagement Event putting thrust on green transformation and green growth of Bangladesh.
“At this stage of green banking, we are well aware that green transformation at large scale is indispensable for ensuring environmentally sustainable economic growth,” the BB governor said. He said no doubt green banking is a catalyst for green growth.
Taking this into account, Bangladesh Bank (BB) has been providing a range of policy and financing support to banks and Financial Intitutions (FIs) for mainstreaming green banking into the core banking practices. These endeavors have been enhanced in last couple of years. A separate department has been established to address the green issues in a broader manner.
Further, we are committed to implement a full scale IT based paperless banking operation in due course. A total of 47 green products have been included in the BB refinance scheme of which 23 are green energy. If any bank or FI comes up with innovative green products that contribute to environmental conservation, BB will look into the issue to identify the product as a green one. Banks and financial institutions have been directed to allocate at least 5 percent of their loan portfolio to green finance. Shifting the investment from fossil-fuel to green energy is the only way for transforming economic growth paths.
Assessment of environmental risks above the threshold limit is a must. We would like to see a green revolution through a proactive and an effective engagement between green industry and financial sector for attaining sustained inclusive growth. Hanne Fugl Eskjaer, Ambassador, Embassy of Denmark, Dhaka; Dr. Mohammad Tamim, Head of Petroleum and Mineral Resources and Engineering Department, BUET; Mr. Rajarshi Banerjee, Country Manager, ABB Solutions in Energy Efficiency; Mr. Stephan Skare Enevoldsen, Danida Senior Advisor; Mr. Shamim Ul Huq, President, NCCI were present on the occasion.
The BB Governor greeted the Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh and the Danish International Development Agency (DANIDA) for establishing much awaited Energy Efficiency secretariat in Bangladesh reflecting a clear commitment of DANIDA and NCCI activities towards green transformation and green growth of Bangladesh, said a statement.