Bangladesh's central bank has launched a 2 billion taka ($29 million) refinance scheme for renewable energy in an effort to help ease power and gas crisis and reduce pollution.A maximum 100 percent refinance facilities will be provided to the commercial banks against their lending to solar projects, bio-gas plants in rural and urban areas and effluent treatment plants for industries, said a central bank circular.
Under the new scheme, the central bank would provide loans to banks at five percent (bank rate) interest rate.
The banks will charge up to 9 percent interest on such lending to their clients. If banks channelized the fund through non-government organizations (NGOs) linkage under credit wholesaling, the rate of interest will be 10 percent.
SOURCE : REUTERS
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