Bangladesh has been selected for the first phase of a new international climate finance programme, giving it an opportunity to seek up to $30 million for projects to strengthen climate resilience.
The country is among six nations invited to join the Accelerating Resilience Investments and Innovations for Sustainable Economies (ARISE) initiative of the Climate Investment Funds (CIF).
The selection was announced by Dr Md Saimum Parvez, special assistant to the prime minister on environment, forest and climate change, at a press conference at the Bangladesh Pavilion during COP31 in Antalya, Türkiye, on Thursday.
Saimum said Bangladesh would prioritise coastal protection, climate-resilient agriculture, infrastructure and livelihood protection in its proposed investment plan.
The funding, however, is not an approved grant or confirmed disbursement. Bangladesh must prepare an investment plan with its multilateral development bank partners before financing can be considered.
According to CIF, Bangladesh, Haiti, the Kyrgyz Republic, Morocco and Sierra Leone have been selected for the first phase, alongside a regional programme involving Malawi and Mozambique, which can seek up to $40 million.
CIF received 25 expressions of interest representing more than $700 million in potential investment opportunities. The proposals cover agriculture, water security, infrastructure, energy, coastal protection and social protection.
Launched at COP30, ARISE aims to use concessional finance to attract further public and private investment in climate adaptation.
Saimum said the government was also exploring grants, concessional loans, blended finance and other international mechanisms to mobilise resources. He stressed the need for stronger cooperation with development partners, including the World Bank, Asian Development Bank and Asian Infrastructure Investment Bank.
State Minister for Foreign Affairs Shama Obaed Islam and State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam also attended the briefing.
