Bangladesh’s Infrastructure Deve lopment Company Limited (IDCOL) will seek a $100-mn loan from the Green Climate Fund (GCF), and secure a further $66 mn through borrower cofinancing to finance energy efficiency initiatives in the country’s textile sector. IDCOL is one of the two local direct access accredited entities empowered to handle GCF money.

Improving energy efficiency in the Bangladesh’s textile industry is considered the key to retaining global competitiveness as well as helping the country to meet its climate change objectives, company report saying. As part of preparing the funding proposal, a dissemination and stakeholder consultation workshop, titled “Impacts of Energy Efficiency on Environment, Social and Gender in Textile Sector of Bangladesh,” was conducted recently in Dhaka.