• Monday, Mar 25, 2019
  • Last Update : 03:52 am

Bigger budget proposed to tackle climate vulnerability

  • Published at 12:29 am June 8th, 2018
  • Last updated at 12:33 am June 8th, 2018

The amount will be spent by at least 20 ministries and divisions of the government

The government has allocated Tk18,948.76 crore to address the rising vulnerability for climate change in the proposed budget for fiscal year (FY) 2018-19. 

The amount will be spent by at least 20 ministries and divisions of the government.

Climate Financing for Sustainable Development: Budget Report 2018-19 published by Finance Ministry disclosed the matter yesterday.

It is the second report following the one published in the last fiscal year. In FY 2017-18 the climate budget covered six relevant ministries and divisions but this time it is broadened to 20 bodies.

The report said the cumulative budget allocation of these 20 ministries and divisions amount to 45.84% of the total national budget where 8.82% is climate relevant.

The allocation covers six thematic areas some being food security, social protection, health, and infrastructure.

The IT platform of the Integrated Budget and Accounting System (iBAS++) has been used in tracking climate expenditure this year along with the climate public financing tracking methodology.

The government first allotted TK10,113.39 crore for the climate change vulnerabilities in FY 2014-15.