Cabinet ratifies deal on forming International Solar Alliance | 2017-08-21 |

Cabinet ratifies deal on forming International Solar Alliance

Alliance to channel $300bn in 10 yrs for renewable energy projects

Sun Online Desk     21st August, 2017 05:16:33 printer

Cabinet ratifies deal on forming International Solar Alliance

The Cabinet has ratified an agreement under which Bangladesh became a member of 121 solar-resource-rich nations for research, low-cost financing and rapid deployment of clean energy. 


The decision was taken at a regular weekly meeting of the Cabinet on Monday held at Prime Minister's Office with Prime Minister Sheikh Hasina in the chair.


Briefing reporters after the meeting at the Secretariat, Cabinet Division Secretary on Coordination and Reforms NM Ziaul Alam said the International Solar Alliance (ISA) was launched at the UN Climate Change Conference in Paris on November 30, 2015 by Indian Prime Minister Narendera Modi and then French President Francois Hollande, reports UNB.


Following that, he said, Bangladesh signed the agreement on the sidelines of the COP22 Conference in Morocco. "Today, the 'Framework Agreement on the Establishment of the International Solar Alliance' has been ratified."


Highlighting some salient features of the deal,  Ziaul Alam said the Alliance will take steps to remove the obstacles and problems in boosting the solar power of the solar-resource-rich member countries alongside taking integrated efforts for financing solar power projects, conducting research, ensuring necessary development and boosting capacity.


"Besides, various programmes and proposals of the ISA will be adopted through discussions,” he added.


The Cabinet Division Secretary said there will be an Assembly and one Secretariat under the ISA, while the member states will be the member of the Assembly and decision will be taken in the Assembly through votes.


"The ISA Secretariat will execute the Assembly decisions," Ziaul Alam added.


He also said India will act as the depositor of the Alliance while any member state can withdraw its membership after giving a three-month notice.


The ISA aims to channel $300 billion in 10 years to promote renewable energy projects under a global mega fund for clean energy.


The Cabinet meeting, however, directed the Internal Resources Division (IRD) to resubmit the draft of 'The Income Tax Bill, 2017' after reviewing the draft law in details.


The meeting also adopted separate condolence and censure motion on the August 21 grenade attack in the city in 2004 in a bid to kill then opposition leader and Awami League President Sheikh Hasina. 


Ministers, State Ministers, and secretaries concerned were present.