Starting in 2023, P4G is no longer funding partnerships in Bangladesh but will continue to provide funding and technical assistance to all current partnerships until the end of their contract period.
Bangladesh reached lower-middle income status in 2015, and aims to become an upper middle-income country by 2031. In 2019, Bangladesh ranked as the world’s seventh fastest growing economy with the rate of 7.3% annual growth, paving way for their ambition to be their reality. As Chair of the Climate Vulnerable Nations Forum, Bangladesh advocates for a resilient recovery with key priorities areas that include the protection of human rights, sustainable textiles and increasing access to electricity through renewable energy deployment.
P4G has funded seven partnerships in the country since 2018, with innovative approaches to meeting Bangladesh’s climate and development goals. Focused on supporting Bangladesh’s need for low-carbon infrastructure, Smart Charging for Green Rides will improve the electric three-wheeler charging ecosystem in Bangladesh through pay-as-you-go (PayGo) technology for lithium-ion batteries, renewable energy generation and accessible financing. With Bangladesh’s unique challenges of rising sea levels resulting in water pollution, partnerships like Decentralized Safe Water Asia and Clean Water for All are playing a key role in meeting the country’s commitment to providing clean and safe water.
The garment sector is one of Bangladesh’s most important economic drivers representing 85% of the country’s exports. Mainstreaming sustainability and gender equity and transitioning to a circular economy can provide the country with significant economic and environmental benefits. In collaboration with P4G, Bangladesh will continue to accelerate partnerships like the Circular Fashion Partnership that catalyze domestic capacity for textile fiber recycling and production to deliver long-lasting climate and social impacts.
We value the approach P4G brings to co-creating and accelerating partnerships addressing important sustainability issues in Bangladesh. Ensuring sustainability and resilience in important sectors in textiles and the circular economy is key to Bangladesh achieving our Sustainable Development Goals and climate objectives.