Bangladeshi companies working in the climate-resilient, environment-friendly, clean and renewable energy-efficient sector have a great opportunity to get project financing from Private Financing Advisory Network (PFAN), experts opined.
Their opinion came at a webinar titled “Climate and Clean Energy Investment Opportunities in Bangladesh” organised jointly by Dhaka Chamber of Commerce and Industry (DCCI) and Private Financing Advisory Network (PFAN) on Tuesday.
In his welcome address, DCCI Acting President N K A Mobin said the private sector plays the biggest role in the development of Bangladesh and needs to contribute to the paradigm shift caused by climate change.
Businesses are already taking action to address climate risks and opportunities by incorporating environmental consideration into the decision-making process, he said.
For clean energy financing and culture in Bangladesh he recommended developing a strategy to slash the gradual dependence on fossil fuel in industries, low-cost investment in renewable energy, a low-cost green fund for diverse industries and creating a climate change resilience refinancing fund, Mr Mobin said.
Peter du Pont, Ph. D., PFAN Regional coordinator Asia highlighted the activities of PFAN. He said PFAN advises low-carbon, climate-resilient businesses in developing countries and matches projects to appropriate private financing. PFAN so far supported 675 projects since its inception in 2008. All the projects of PFAN raised a total of USD 1.8 billion, he told. Till December 2020, 94 projects in Asia are in pipeline, he informed.
Jamorn Teo Hoonsiri, PFAN Advisor, Thailand said that Bangladesh has huge potential to lure Thai investment in the renewable energy and agriculture sector. PFAN Thai will focus on facilitating Thai investment into agriculture, renewable energy, tourism, health, energy efficiency, and waste & circular economy.
Shaymal Barman, PFAN Country Coordinator Bangladesh said Thai strategic investment can look for Bangladesh as a preferred destination in the shrimp export sector. generating a good number of projects in solar solutions. Solar IPP needs more than 10 years of finance which bank is not suitable.
Mohammad Saifullah, Head of Business, ACI Agro link Ltd., Masudur Rahim, CEO, Omera Renewable Energy Limited and Nancy Nguyen, PFAN Asia Network Support Manager also talked on the occasion.