Bangladesh: World Bank makes $110m available to help small companies become greener
17/04/2018
Around 20,000 very small businesses in sectors including leather and livestock stand to benefit form the initiative, which is called the Sustainable Enterprise Project.
Through the project, the World Bank is making $110 million available to help microenterprises adopt environmentally-friendly practices. On making the announcement, team leader, Nadia Sharmin, said: “Half the country’s population depend on microenterprises for livelihoods. But, the microenterprises cumulatively affect the environment and face climate-change risks. By creating opportunities for them to avail themselves of finance and technologies for environmentally sustainable practices, the project will promote a cleaner and climate-resilient economy.”
It will offer microenterprise clusters incentives for using cleaner technologies and joint amenities such as shared recycling or storage facilities. It will provide loans to microenterprises for innovative, environmental-friendly technologies and practices.
The World Bank has said that around 30% of the firms that will benefit are owned by women entrepreneurs.
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