Bangladesh becomes 1st country to receive funds from UN for Solar Home Systems
Bangladesh has become the first country in the world to receive funds from United Nations for its fast growing Solar Home Systems.
In this regard, UN Framework Convention for Climate Change (UNFCCC) has issued carbon credits (CC) worth 3.56 million US dollars to two Bangladeshi organisations.
The two organisations are
- Grameen Shakti: Founded by Nobel Laureate Muhammad Yunus with an aim to take clean solar power systems and communication technology to villages.
- Infrastructure Development Company Ltd (IDCOL): It state-owned development financial institution in Bangladesh. It finances and promotes infrastructure and renewable energy projects in the country.
The Solar Home Systems of Bangladesh is supported by various international organisations like Global Environment Facility (GEF) and World Bank. Under this enviro-friendly initiative, around 6 million systems have been installed in Bangladesh covering over 10% of its 160 million population. This system has become key source electricity for lighting, running TVs & fans and charging mobile phones by using renewable energy in rural households of Bangladesh
It should be noted that this project plays important role in Bangladesh’s efforts to tackle climate-change as it one of the lowest carbon emitters country but most vulnerable to climate-change.
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Month: Current Affairs - August, 2015