The Climate Investment Fund (CIF), managed by Norfund will allocate nearly US$1.0 billion to eight developing countries including Bangladesh over the five years (2022-27).
The CIF is dedicated to invest in renewable energy and low-carbon technologies in developing countries with significant emissions from coal and other fossil fuel power production.
The investments have already been made in South Africa, India and Sri Lanka. Vietnam, the Philippines, Cambodia, Indonesia, and Bangladesh are now in the priority list.
Among them, Bangladesh will get a prominent position.
However, Norfund has already identified investment opportunities in these eight countries totaling over 8 billion NOK (Norwegian Krone), according to report on its website.
The Norwegian Embassy in Dhaka, in collaboration with Norfund and The Nordic Chamber of Commerce and Industry in Bangladesh (NCCI), hosted a seminar on Monday to introduce the CIF to Bangladesh. The event was held at a city hotel.