In response to Bangladesh’s rapidly increasing electricity demand, which is growing at over 10% annually due to economic growth, industrialization, grid expansion, and the adoption of new electrical appliances, Young Consultants have undertaken a significant energy efficiency project. The initiative, titled “Assistance in the Implementation of Energy Efficiency and Conservation Promotion Financing Project,” has been in progress since May 2018 under the supervision of Bangladesh Infrastructure Finance Fund Limited (BIFFL) and the Ministry of Finance.

The project aims not only to reduce energy consumption but also to minimize the environmental impact of industrial waste through enhanced conservation practices. Successful execution of this project will align with the Bangladesh Government’s “Energy Efficiency and Conservation Master Plan up to 2030.” This plan targets a 20% improvement in energy intensity by 2030 compared to 2013 levels, with an expected savings of 95 million tons of oil equivalent (toe) during the period.

While the primary focus of the project is on the Textile and Garments industries, its scope extends to promoting energy efficiency and conservation across various sectors, including other industries, buildings, and households nationwide. Through this initiative, industries receive loans from BIFFL to purchase and install energy-efficient equipment. Young Consultants plays a critical role in assisting BIFFL, a government-owned non-bank financial institution (NBFI), in implementing, monitoring, and expanding the Energy Efficiency and Conservation Promotion (EECP) Two-Step Loans program, which is backed by the Japan International Cooperation Agency (JICA).

In addition, Young Consultants support BIFFL in developing a comprehensive monitoring framework and establishing Standard Operating Procedures (SOPs). They also provide extensive support in conducting site visits, verifying the physical installation and operational status of equipment, maintaining it, and ensuring the appropriate use of allocated funds.

Through these efforts, Young Consultants contribute to the government’s strategy of fostering sustainable industrial growth while conserving energy and protecting the environment.