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WB Offers New Aid for Clean Energy

The World Bank (WB) signed a $15 million grant agreement with the government to increase access to clean energy for targeted rural areas through output-based aid (OBA) subsidies.

 

The global lender is acting as administrator for the Global Partnership on Output-Based Aid (GPOBA), reports BSS.

 

"The grant is expected to benefit 1.1 million people living in poor, remote areas of Bangladesh currently lacking grid electricity", the WB said in a statement last week.

 

This new project will make clean energy affordable to low-income households through off-grid solutions by buying down the capital cost of 225,000 solar home systems (SHS) and 2,500 mini-grid connections.

 

The grant will also facilitate investments in solar-pumped irrigation to 6,600 farmers, reducing the negative fiscal and environmental impact of diesel pumps.

 

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