Environment, Forest and Climate Change Minister Saber Hossain Chowdhury emphasized Bangladesh's vulnerabilities to climate change and the urgent need for adequate climate finance to support national plans like the Mujib Climate Prosperity Plan, National Adaptation Plan, and Nationally Determined Contributions (NDCs).
"This programme will strengthen our ability to access and utilize global funds while catalyzing investments from diverse sources,” the minister said while addressing a workshop as the chief guest on Saturday.
Saber highlighted three key challenges---scaling up the global donor base through inclusive partnerships, ensuring policy coherence and coordination across ministries to maximize co-benefits such as health and employment and conducting a comprehensive financial needs assessment as the current $230 billion estimate is likely understated.
Addressing these challenges through collaboration is essential for securing sustainable climate financing, he said.
A four-day capacity development workshop titled "Climate Finance Access and Mobilization in Bangladesh" was jointly inaugurated by the International Climate Finance Cell (ICFC), Economic Relations Division, Ministry of Finance, Bangladesh Climate Development Partnership (BCDP), Ministry of Environment, Forest and Climate Change (MoEFCC), and the United Nations Development Programme (UNDP) in Dhaka on Saturday.
The event, with the participation of over 45 participants from 16 ministries, divisions, agencies, research institutes, and academia across the country, was designed to enhance understanding of climate finance, mobilize additional funds, engage key stakeholders, and utilize existing climate finance platforms.
Among the participants, Shahriar Kader Siddiky, Secretary, the Economic Relations Division (ERD); Stefan Liller, Resident Representative, UNDP Bangladesh, Matt Cannell, Deputy High Commissioner and Development Director, British High Commission, Dhaka, Nayoka Martinez-Bäckström, Deputy Head of Development Cooperation, Embassy of Sweden and Edimon Ginting, Country Director, Asian Development Bank, spoke on the occasion.
Shahriar Kader Siddiky said, "Integrating climate change into public financial management is crucial for aligning national budgets and fiscal policies with climate priorities.”
"Our goal is to create a knowledge circle in both the public and private sectors that can access and utilize climate finance from national and global sources effectively”, he added.
"UNDP remains committed to supporting Bangladesh in its pursuit of climate-resilient development pathways. This workshop will lay the ground for enhanced collaboration and coordination among stakeholders to mobilize additional climate finance from diverse sources," said Stefan Liller.
"Bangladesh has received substantial financing from vertical funds like the Global Environmental Facility, the Green Climate Fund and the Adaptation Fund, but the process of accessing such funds needs to be simplified and the utilization of these need to be made quicker, more efficient, and in an accountable and transparent way to make Bangladesh best in class both in mobilizing and delivering climate finance - in support of its mitigation and adaptation priorities and larger development aspirations,” Stefan added.
