The trade volume between Bangladesh and Germany in 2023 was EUR 8.62 billion, said the German Embassy in Dhaka on Wednesday, reports UNB.

The German Development Cooperation provided support in the areas like Climate and Energy – Just Transition with EUR1,168.56 including -  renewable energy and energy efficiency:  642.44 million Euro and Sustainable Urban Development 526.12 million Euro.

The Development Cooperation provided total (ongoing) 1,303 million Euro while since 1958 the total amount stands at 3,769.430 million Euro.

German Ambassador to Bangladesh Achim Tröster said mitigating climate change and adapting to it can only work if governments, private sector and civil society work hand in hand.

This effort needs leadership, innovation and mutual learning by all actors, he said.

“Thus, we very much welcome the Initiative of Eastern Bank PLC. to honor such efforts in Bangladesh. EBL is already a long-standing partner supported by German Development Cooperation´s private sector instruments with loans and technical support. We are happy to intensify this cooperation with this Joint Declaration of Intent,” said the Ambassador.

Eastern Bank PLC. (EBL), a leading private commercial bank in Bangladesh, and the Embassy of the Federal Republic of Germany entered into a partnership on Tuesday to collaborate on the EBL Climate Change Action Award with the common goal to promoting climate change adaptation and mitigation in Bangladesh.

The award will be announced annually with the aim of recognizing and celebrating the best practices by local corporations, manufacturing companies, NGOs, and climate activists who have demonstrated excellence and leadership in implementing climate projects and initiatives.

The joint declaration of intent was signed by German Ambassador Achim Tröster and Managing Director of EBL Ali Reza Iftekhar at the Embassy.

EBL’s Managing Director Ali Reza Iftekhar said, “Germany and EBL share a common goal of promoting work to combat climate change challenges impacting Bangladesh."

He said they are delighted to enter into this partnership with the Embassy of the Federal Republic of Germany on our Climate Change Action Award initiative and hope to work together closely to promote the climate cause.

“Through this award we aim to inspire and motivate more actors to join the fight against climate change in Bangladesh.”

The award categories cover a wide range of sectors and themes involving climate change challenges crucial to Bangladesh.

The winners will be selected by a panel of judges, comprised of experts from academia, civil society, media, and international partners like the German Embassy.

The nomination process for the EBL Climate Change Action Award 2024 will be announced soon through newspaper, electronic media and EBL website and social media platforms.

This was EBL’s second partnership. Earlier this year in May, EBL and the U.S. Department of State signed a partnership to collaborate on the EBL Climate Change Action Award.

Bd-pratidin English/Tanvir Raihan