Palli Karma-Sahayak Foundation (PKSF) has signed a Tk500 crore agreement with the Finance Division of the Ministry of Finance to expand solar power use across the country.
The agreement was signed on Tuesday by Nazneen Sultana, joint secretary of the Finance Division, and AKM Nuruzzaman, senior general manager of PKSF, according to a press release.
Under the initiative, PKSF will provide loans to end users at an interest rate of 6 per cent through its partner organisations.
To facilitate the financing, PKSF has launched a specialised Renewable Energy Financing Programme to support solar power installations and accelerate the adoption of renewable energy across Bangladesh, the press release added.
The initiative is expected to strengthen the country’s energy security by diversifying energy sources and expanding access to clean power.