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A scale-up of green investment will not only mitigate the impact of climate change, but will also foster sustainable economic growth and job creation'

Experts have said that investment in eco-friendly or green technology will ensure sustainable economic growth and generate employment in Bangladesh.

Economists, trade analysts and business leaders made the remarks at the Green Development Conference and Green Tech Expo 2018, organized by NeoSTAR at the KIB Complex in Farmgate, Dhaka on Thursday.

 

Danish Ambassador in Dhaka Mikael Hemniti Winther was in attendance as the chief guest at the event, while former Bangladesh Bank governor Atiur Rahman was the special guest. BGMEA Senior Vice-President Faruque Hassan, and Sustainable and Renewable Energy Development Authority (SREDA) member Siddique Zobair were also present.

“A scale-up of green investment will not only mitigate the impact of climate change, but will also foster sustainable economic growth and job creation,” former Bangladesh Bank governor Atiur Rahman said.

He added that though the banking sector was trying to focus on eco-friendly business practices, the majority of investment must come from the private sector.

 

Meanwhile, Danish Ambassador Winther said there was no time to rest, and both companies and consumers needed to favour green technology and practices.

“The private sector should ask for government regulation to ensure a level playing field and incentives for green initiatives,” he added.

Experts also suggested that the Security Exchange Commission and National Board of Revenue be reformed to focus on an inclusive and sustainable economy.

 

Bangladesh Bank has created a Tk200 crore revolving fund in order to support green projects through commercial banks. In addition, it has also created a $200 million fund to make RMG and leather factories more eco-friendly.

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