DHAKA, 11 February 2022, (TON): Six South Asian nations, including India and Bangladesh, are set to benefit from a new US$21.5 million (EUR 18 million) funding from the European Union, which will help to accelerate climate-smart, inclusive infrastructure investments in their regions.

IFC, the largest global development institution, focused on the private sector in emerging markets, will implement the project under the programme, Accelerating Climate-Smart and Inclusive Infrastructure in South Asia.

ACSIIS is a five-year programme (2021-2026) to help spur investments in energy, water, waste management, transport, logistics, and green buildings to benefit people and businesses in Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka.

A press release said “ACSIIS would leverage USD$ 850 million of private sector investments in the region.”

IFC estimates that South Asian countries can unlock more than US$3 trillion of climate-smart investment opportunities by fully meeting the national targets under the Paris Agreement by 2030.