DHAKA, May 16 (Xinhua) -- The government of Bangladesh Wednesday signed a financing agreement with the World Bank to help microenterprises adopt cleaner technologies.
The 110 million U.S. dollars Sustainable Enterprise Project will help about 20,000 microenterprises adopt environmentally friendly practices in the manufacturing and agribusiness sectors, said the bank in a statement.
The project will provide loans to microenterprises for innovative, environmentally sustainable technologies and practices, it said.
"The Project will help Bangladesh create quality jobs, improve competitiveness, and boost growth while improving environmental sustainability and resilience to climate change," said Qimiao Fan, Country Director for Bangladesh, Bhutan, and Nepal.
Half of the country's population depend for livelihoods on 7 million existing microenterprises. But 90 percent of these negatively impact the environment.
A 2014 survey, for an instance, shows only 6 percent of microenterprises disposed solid wastes properly.
The project will promote basic safety standards, certify eco-labeled products, and introduce new, resource-efficient technologies.
"In recent years, the government of Bangladesh has taken concrete steps to promote a greener, cleaner, and more climate-resilient economy," said Kazi Shofiqul Azam, Secretary, Economic Relations Division, Government of Bangladesh. "This project will contribute to faster and more sustainable growth."
The agreements were signed by Kazi Shofiqul Azam and Fan on behalf of the government and the World Bank, respectively, at the Economic Relations Division in Dhaka.