Bangla banks financing SMEs, agri required to utilize solar energy

The Bangladesh Bank made it mandatory for banks which want to finance the SME and agricultural projects to set up solar power panels for providing electricity.

BB’s circular mentioned that if any bank plans to open a new branch to finance  projects in the agriculture or small and medium enterprise sectors, they should inform it whether solar power panels are available there to provide power to the  branch. The BB will not allow any bank to open any such branch without  installation of solar power panels.

The circular said that the new branches should be environment-friendly, and should prioritise the effective use of sunlight, the use of renewable energy, energy-efficient bulbs and machinery, along with proper use of water.

The new directives are in line with the implementation guideline of ‘green banking’ which was announced last February.