Germany to provide €340m development assistance to Bangladesh

Germany will provide Bangladesh EUR 339.53 million to implement several development projects in areas of energy, urban development, migration, biodiversity and good governance in to Bangladesh.

To this respect, Bangladesh and Germany on Sunday (June 20) signed financial and technical agreements in Dhaka following the fruitful negotiations of the two governments held end of 2020.

Ms. Fatima Yasmin, Secretary, Economic Relations Divisions, Ministry of Finance of Bangladesh and Peter Fahrenholtz, Ambassador of the Federal Republic of Germany to Bangladesh, signed the agreement on behalf of the two governments.

The available amount totaling EUR 339.54 million, equivalent to Tk 3463.3 crore has been captured in these agreements with EUR 47.04 million for Technical Cooperation and EUR 292.5 million for Financial Cooperation, said the German Embassy Dhaka in a press statement on Monday (June 21).

The cooperation under this agreements will take place in the areas of Renewable Energy and Energy Efficiency (EUR 237.5 million EUR), Sustainable Urban Development (EUR 30 million EUR), Good Governance (EUR 5.5 million), Displacement and Migration (EUR 19 million), Training and sustainable growth for decent jobs, (EUR 42.5 million) and Protection of Biodiversity (EUR 5.04 million).

The signing ceremony was attended by high officials from the German Embassy in Dhaka, the German Development Bank KfW, the German technical cooperation agencies GIZ and BGR, as well as from the Government of Bangladesh.

Germany has been providing financial and technical assistance for the development of Bangladesh since 1972, which amounts today to a total of over 3 billion EUR.

German–Bangladesh Development Cooperation has a long standing history in supporting infrastructure, health, poverty alleviation, good governance and human rights, energy efficiency and renewable energy, climate change adaptation.

The present agreement marks the continuation of successful bilateral cooperation that contributes to the Sustainable Development Goals.

“We are glad to continue our support for the Bangladeshi success story” the German Ambassador said at the signing ceremony.