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World's First Clean Compost Plant opened in Bangladesh

Photo: Dutch Ambassador in Dhaka, Mrs. den Tusscher makes a speech at the opening in Bulta, Bangladesh

On November 25, World Wide Recycling Biofertilizer, Bangladesh LTD., opened the World's First Compost Plant commissioned under the Clean Development Mechanism (CDM) of the Kyoto Protocol. The plant was inaugurated during a festive opening ceremony with Dutch Ambassador in Dhaka, Mrs. Bea ten Tusscher, as a special guest.

The plant is located in Bulta, in the Narayanganj district and has the objective of reducing the emission of 89,000 tonnes of green house gas (GHG) in the coming years. Vegetable waste will be collected using the project's own transport networks and taken to the compost plants. Normally this organic waste is left behind in the city and on the landfill and causes floodings during the rainy season, health hazards and environmental pollution.  The project will reduce methane gas which is 21 times more harmful than Co2 through managing daily waste of 700 tonnes and producing 50,000 tonnes of compost yearly. Besides, the project is said to create employment for 800 urban poor, including women.

WWR Bio Fertilizer Ltd is a waste procession project with Dutch and Bengal partners in Dhaka, which is financed by FMO, Triodos Innovation Fund, World Wide Recycling/Waste Concern and Dutch-Bangla Bank. Total costs of the project amount to 12 mln EUR, FMO is a shareholder and lender in this deal. In September of this year the project received an honorable mention at the 2008 World Business and Development Awards.

The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. With an investment portfolio of € 3.4 billion, FMO is one of the largest bilateral development banks worldwide. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.

Press contact:

Nicoline van Slingelandt

Communications Officer (PR)

T: +31 70 314 9790

M: +31 622 563 047

E: n.van.slingelandt@fmo.nl