Global Gateway: Bangladesh, EU sign €400m partnership for renewable energy

UNB :
President of the European Commission Ursula von der Leyen together with Prime Minister Hasina on Wednesday launched the negotiations on a new Partnership and Cooperation Agreement to expand and develop the relationship between the EU and Bangladesh at the Global Gateway Forum.

On this occasion, the EU, the European Investment Bank (EIB) and Bangladesh signed agreements worth €400 million for renewable energy projects to contribute to a sustainable green transition of Bangladesh’s power sector.

It is also aimed at meeting the country’s climate mitigation targets.

Five additional cooperation actions, worth €70 million, supporting education, decent work, green construction, e-governance and the prevention of gender-based violence were also launched.

Speaking in Brussels, President Ursula von der Leyen said: “The EU and Bangladesh have been reliable and trusted partners for 50 years.

Now, we are taking this partnership even further, to reap the opportunities of the green transition under Global Gateway.

The European Commission, the EIB and Bangladesh will join forces to support renewable energy and tackle climate change.

This €400 million investment will make a difference for the people of Bangladesh and its economy”.

Prime Minister Sheikh Hasina said: “We are confident that this initiative will enable developing countries such as Bangladesh to fight climate change, to address infrastructure gaps, invest in renewable energy, digital innovation, healthcare, education and much more.

The Global Gateway is a sign of friendship, of partnership, of trust, of symbiotic interdependence”.