WB funds to help microenterprises adopt cleaner technologies
The government yesterday struck a financing agreement with World Bank (WB) to help microenterprises adopt cleaner technologies.
The $110 million Sustainable Enterprise Project will help about 20,000 microenterprises in the manufacturing and agribusiness sectors adopting environment-friendly practices. It will provide loans to microenterprises for innovative and environmentally sustainable technologies and practices.
“Around the globe, we have seen that investing in clean, green, and climate-resilient technologies helps countries reduce poverty and achieve sustainable growth,” said Qimiao Fan, country director of the WB, in a statement.
“The project will help Bangladesh create quality jobs, improve competitiveness and boost growth while improving environmental sustainability.”
According to the development lender, half of the country's population depend on 7 million existing microenterprises for livelihoods. But 90 percent of these cause a negative impact on the environment