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IDCOL has been selected as the Implementing Partner for the Global Clean Cooking Program – Bangladesh, which is funded by Green Climate Fund (GCF) and International Development Association, World Bank.The GCF Proceeds will be channeled through the World Bank, in its capacity as Accredited Entity of the Fund, and will be made available to the Government of Bangladesh, represented by its Finance Division, Department of Finance (“Executing Entity”). The World Bank will enter into a grant agreement (“Subsidiary Agreement”) with the Executing Entity for the implementation of the GCF Funded Activity.
For the implementation of the GCF Funded Activity, the Executing Entity will enter into a subsidiary grant agreement (“Implementing Grant Agreement”) with the implementing partner for this GCF Funded Activity being the Infrastructure Development Company Limited (“IDCOL”) (“Implementing Partner”) for the purpose of using the GCF Proceeds to carry out the activities. The Implementing Partner shall further on-grant the GCF Proceeds in local currency in the form of sub-grants to eligible organizations identified per the criteria stipulated in the operating guidelines formulated with the approval of the World Bank (“Operating Guidelines”) and the Executing Entity’s Governance and Accountability Action Plan as further defined in the Subsidiary Agreement.
The total project investment is USD 82.2 million, including GCF grant financing of USD 20 million, IDA senior loan co-financing of USD 20 million and parallel financing by local beneficiary equity for purchase of Improved Cook Stoves (ICS) of USD 42.17 million. The facility is expected to be active soon, once the documentation process is completed. For details on the funding proposal please refer to the below link https://www.greenclimate.fund/projects/fp070

Disclosures

Name, address and nationality of the private sector grantee responsible for the installation of ICS Number of ICS installation achieved
Total grant amount awarded
Stove submission process and grant allocated for stove types
World Bank’s budget utilization details