Sonali Bank to Provide Loans to Solar Power Entrepreneurs

Sonali Bank PLC will provide loans to small businesses and entrepreneurs involved in solar power installation as part of the government’s efforts to tackle the energy crisis and expand the use of renewable energy.

The announcement was made on Saturday (October 17) at the inauguration of a 115-kWp on-grid solar system installed on the roof of Sonali Bank Staff College in Uttara, Dhaka.

Speaking as the chief guest at the event, held in the Staff College conference room, bank Chairman Mohammad Mahbubur Rahman said the solar system was inaugurated as part of the government’s initiative to generate 30,000 megawatts of electricity by 2030.

He said Sonali Bank could generate at least 2,300 kilowatts of electricity from its own facilities across the country. He added that work should begin by next June rather than waiting until 2030.

Mr. Rahman also said Sonali Bank worked not only to make profits but also to contribute to the country’s overall development.

Speaking as a special guest, the bank’s Managing Director, Md. Shawkat Ali Khan, said the solar panels would meet the electricity needs of the Staff College. Solar systems would subsequently be installed at the bank’s head office and other buildings it owns.

Under its green banking initiative, the bank supports entrepreneurs in installing solar systems, he said. It would also help ordinary customers obtain low-interest loans to install solar systems and address electricity shortages.

The bank would provide loans to small businesses seeking to work in the solar panel sector, Mr. Khan said. He expressed hope that Sonali Bank would remain a leader not only in profitability but also in other areas.

The inauguration ceremony was chaired by Md. Fazlul Haque, principal and general manager (in-charge) of the Staff College. Faculty members, executives from different levels of the bank, relevant officials and trainee officers attended the event.