High-level consultation to shape BD climate finance strategy

Climate resilient initiative for fishermen by Stanchart and BRAC.

Dhaka, Dec 12: A high-level consultation was held in Dhaka on Wednesday to advance Bangladesh’s upcoming Climate Finance Strategy.

The event was organized by the Finance Division of the Ministry of Finance in partnership with UNDP, with support from Agence Française de Développement (AFD). It brought together government officials, development partners, and international financing institutions to enhance climate resource mobilization and management amid increasing environmental pressures.

The workshop, part of the Inclusive Budgeting and Financing for Climate Resilience (IBFCR) project, emphasized the urgency of climate action in Bangladesh, which contributes less than 0.56 percent of global emissions but faces severe climate risks. The country’s annual climate financing requirement is estimated at USD 26.12 billion, or 5.8 percent of GDP.

Syeda Rizwana Hasan, Advisor to the Ministry of Environment, Forest and Climate Change, urged building real capacity, simplifying financing processes, and equipping ministries and NGOs through clear working groups to make climate finance outcome-oriented.

Md. Hasanul Matin, Additional Secretary & Super-Wing Chief of the Finance Division, highlighted that climate change is a present reality, stressing the need for strong policies and a robust fiscal system to mobilize, manage, and monitor climate resources.

AKM Sohel, Additional Secretary of the Economic Relations Division, emphasized prioritizing equity-based and guaranteed funding over additional debt. Cecilia Cortese of AFD called for faster climate finance flows to local governments and communities, while Sweden’s Nayoka Martinez Bäckström stressed inter-ministerial coordination to ensure funds reach critical adaptation and mitigation projects.

Other speakers, including Md. Nazrul Islam, Dr. Maliha Muzammil, Andreas Biermann, and Owais Parray, discussed public and private financing opportunities, sector-specific needs, and collaborative pathways.

The outcomes of the workshop will guide the development of Bangladesh’s national Climate Finance Strategy and support long-term climate and development planning. - UNB