6th August 2022
EP Report

The World Bank, in a report, has suggested ending energy subsidies and imposing carbon tax on all kinds of production activities in Bangladesh for the country's transition to green growth.

 

The Washington-based development partner recently forwarded the study report to different government agencies, including the Finance Division, Planning Commission, and the Economic Relations Divisions (ERD), for their review, feedback and further analysis.

 

The Bangladesh government has also started talks with the World Bank recently over a budget support amounting to at least $250 million with green growth in view, according to sources at the ERD and the Department of Environment.

 

The global lender may set withdrawal of gas and electricity subsidies and imposition of carbon tax as prerequisites for availing its budget support for green growth, officials assume.

 

Subsidy proceeds can be redistributed to poor households, which will lead to a rise in their real income, the Washington-based development partner says in the report.

 

The World Bank also proposes introducing a cap-and-trade system to reduce carbon emissions.


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