Promoting private sector investment through large-scale adoption of energy saving technologies and equipment for textile sector of Bangladesh
IDCOL has submitted its first funding proposal titled, “Promoting private sector investment through large-scale adoption of energy saving technologies and equipment for textile sector of Bangladesh,” to GCF on 23rd January 2020.
The proposed program aims to support business establishments in the textile sector with financial and market resources to avail investment opportunities for energy saving technology upgrades. The intervention will create a favorable market environment and scalable business model for investment in energy efficiency improvements, leading to sizeable energy savings and accompanying with greenhouse gas (GHG) emissions reductions.
IDCOL, as an Accredited Entity to GCF and Executing Entity for the Program, will make GCF funds available in the form of loans to the end borrower who are in this case the private textile manufacturing entities. The end borrower will seek disbursements from IDCOL for energy efficient equipment & technology in line with the capacity proposed to be deployed every year over the program implementation period. IDCOL will also be responsible for execution of activities under Technical Assistance (TA) component.
Notably, IDCOL has received Project Preparation Facility (PPF) from GCF, which is a grant financing provided to conduct detail appraisal of the program. All the relevant activities associated with the PPF have been completed successfully and now IDCOL awaits feedback from GCF on the updates of its approval for this particular program.
| 
