Economy
Bangladesh, Germany Seal 191mn Euro Deal for Development Cooperation
Germany has pledged 191 million euros to Bangladesh, signaling its commitment to support the country’s sustainable development. The two nations recently inked bilateral agreements on Development Cooperation, following up on commitments made during government negotiations in December 2022. These agreements encompass a total volume of 191 million euros, equivalent to approximately 2,215 crore Bangladeshi Taka, with 55 million euros allocated for Technical Cooperation (TC) and 136 million euros for Financial Cooperation (FC), as detailed in a press release.
The signing ceremony, which took place in Dhaka, saw Sharifa Khan, Secretary of the Economic Relations Division, and Jan Janowski, Chargé d’Affaires a.i. of the Federal Republic of Germany in Bangladesh, sign the agreements on behalf of their respective governments. The event was attended by high-ranking officials from the Government of Bangladesh, the German Embassy in Dhaka, and key representatives from the main implementing agencies within German Development Cooperation, namely GIZ for technical cooperation and KfW for financial cooperation.
The projects outlined in these agreements focus on critical areas such as Green and Just Energy Transition, Sustainable Urban Development, Sustainable Supply Chains, Biodiversity and Women Empowerment, as well as support for Host and Displaced Communities in Cox’s Bazar.
Under the Technical Cooperation agreement, the projects encompass various initiatives, including energy efficiency promotion, vocational training, climate-smart urban development, and support for climate adaptation targets, among others.
Meanwhile, the Financial Cooperation agreement includes substantial funding for Climate Change Adapted Urban Development Programs, contributing to the sustainable growth of urban areas in Bangladesh.
Germany has a longstanding history of providing both financial and technical assistance to Bangladesh, dating back to 1972, with a cumulative contribution exceeding 3 billion euros. Their cooperation has played a pivotal role in areas like climate change adaptation, infrastructure development, poverty alleviation, good governance, human rights, energy efficiency, renewable energy, and assistance to Rohingya and host communities in Cox’s Bazar district.
These newly signed agreements signify the continuation of successful bilateral cooperation, aimed at advancing the Sustainable Development Goals (SDGs) and aligning with the Climate Goals outlined in the Paris Agreement. Germany operates its technical and financial cooperation activities in Bangladesh through three institutions: GIZ, KfW Development Bank, and BGR, all of which are overseen by the Embassy of Germany in Bangladesh.
Currently, the German government is financing 23 projects in Bangladesh, totaling 452.5 million euros in loans and 161.054 million euros in grants. Additionally, a separate technical cooperation project, “Strengthening Access to Justice and Legal Reforms (SAJLeR),” was signed between Bangladesh and Germany. This initiative, with a fund of 12.422 million euros, aims to enhance access to justice services for the marginalized, particularly the poor, women, and children, by introducing new reform approaches in the justice sector.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
