World Bank approves USD 172 million for installing 630,000 solar PV home systems in Bangladesh

SolarServer
The World Bank on October 4th, 2011 approved USD 172 million to support the installation of an additional 630,000 solar home systems (off-grid photovoltaic systems) and other renewable energy mini-grid schemes in rural Bangladesh. The credit from the International Development Association (IDA), the World Bank’s concessionary arm, has 40 years to maturity with a 10-year grace period; it carries a service charge of 0.75 percent.
The credit is an additional financing to the ongoing "Rural Electrification and Renewable Energy Development Project" (RERED), following the project’s success in installing solar home systems (SHS) in rural areas where grid electricity is not economically feasible or hard to reach.