UNIDO enlists top global financier GEF in pioneering alt-power push
The United Nations Industrial Development Organization (UNIDO) focal
point office in Colombo, has successfully marshaled a US based top tier
global fund for its pioneering bamboo initiative leading to a large
scale bio-mass alternative energy material growth in Sri Lanka.
"We are highly encouraged by the strong co-financing support of the
Global Environment Fund (GEF) headed by Jeffrey Leonard whose firm has
invested $1 billion in dozens of energy-related projects across the
globe. GEF is one of the most experienced and successful private equity
firms dedicated exclusively to investments in the energy and environment
sectors. The first ever bamboo processing initiative by UNIDO a strong
head-start in Sri Lanka," said Nawaz Rajabdeen, Head of UNIDO, in
Colombo on September 13.
Rajabdeen announced the launch of Bamboo Processing Initiative on
September 19, a UNIDO Country Programme which aims at developing a
bamboo supply chain and product industry in the country, for the first
time in history of Sri Lanka's informal bamboo sector.
The initial support funds for this project was billed at US $ 20
million, but it has now been boosted to $ 24 million due to the promise
and expanded duration of the project.
The Sri Lanka Forestry Master Plan of 1995 identified that protection
of bamboos in the country 'to be a priority.' This reinforces the
opportunity to develop this industry, and gives an additional benefit"
Rajabdeen said.
"We are looking at a seven-year project to upgrade this sector to
make it internationally competitive and to be a provider for alternative
biomass energy. Among the beneficiaries are rural households which
harvest bamboo from the countryside and river banks. |