Today, the Federal Republic of Germany and Bangladesh inked technical and financial agreements on development cooperation valued at 180.807 million EUR.
These agreements included up to EUR 180.807 million (approximately Taka 2,265 crore) in available funds, with up to EUR 45.8 million going towards technical cooperation and up to EUR 135 million towards financial cooperation, following the two governments’ successful negotiations on May 13–14 of this year.
According to a news release, the agreements were signed on behalf of their respective governments by Achim Tröster, the ambassador of the Federal Republic of Germany to Bangladesh, and Md. Shahriar Kader Siddiky, secretary of the Economic Relations Division (ERD).
Officials from the German Embassy in Dhaka, the German Development Bank KfW, the German technical cooperation organisations GIZ and BGR, and the government of Bangladesh attended the signing event.
These agreements will facilitate cooperation in the following areas: Sustainable Urban Development (up to EUR 95.5 million), Renewable Energy and Energy Efficiency (up to EUR 50.5 million), Technical and Vocational Education and Training (TVET) (up to EUR 5.0 million), Socially and Environmentally Sound Supply Chains, Trade and Infrastructure (up to EUR 12 million), Protection of Biodiversity (up to EUR 6.0 million), and a project aimed at preventing domestic violence against women and children (up to EUR 7.0 million).
Germany has been providing financial and technical assistance for the development of Bangladesh since 1972, which amounts today to a total of over 3.5 billion EUR.
German–Bangladesh Development Cooperation has a long-standing history in supporting infrastructure, health, poverty alleviation, good governance and human rights, energy efficiency and renewable energy, climate change adaptation.
With this agreement, fruitful bilateral cooperation that advances the Sustainable Development Goals continues. The German Ambassador remarked, “We are happy to continue our support for the Bangladeshi success story.”
Bangladesh and Germany have set out on a path of collaboration that includes everything from commerce and economic growth to health and education, and more.
In his introductory remarks, ERD Secretary Shahriar Kader Siddiky stated that democracy, inclusion, and sustainable development are the fundamental principles upon which this collaboration is based.
He added that the dedication to promoting economic progress and prosperity is one of the defining characteristics of bilateral cooperation between Germany and Bangladesh.
Germany has been a crucial partner in supporting Bangladesh’s efforts to strengthen its infrastructure, expand its industrial base, and enhance its competitiveness in the global market.
Through initiatives such as technical assistance, capacity building, and investment promotion, Germany has played a pivotal role in empowering Bangladesh to realize its economic potential and improve the livelihoods of its people.
Additionally, the jute industry has long been a vital part of our economy. However, it faces challenges related to modernization, market access, and the development of sustainable production practices.
With the global shift towards environmentally friendly materials, there is an immense potential to expand the country’s jute sector by incorporating innovative technologies and best practices in production and marketing.
The ERD Secretary sought Germany’s assistance in providing technical support to modernize the jute industry.
“This could include support for research and development in jute processing technology, capacity building for farmers and manufacturers, and facilitating access to international markets through trade partnerships,” the ERD Secretary mentioned.
Shahriar also thanked the German government for their ongoing support to Bangladesh.
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