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Dhaka Tribune

Identifying priority projects for accessing international climate finance

The ICICF project will support ERD to strengthen the capacities of national and local actors to access different funding sources for climate change projects

Update : 27 Mar 2022, 09:43 PM

Identifying priority projects for accessing international climate finance, a high-level consultation workshop took place at the Bangabandhu International Conference Centre (BICC) yesterday (March 24). 

Economic Relations Division (ERD), Ministry of Finance, and the Improved Coordination of International Climate Finance (ICICF) project, implemented by GIZ on behalf of the Federal Government of Germany, jointly organized the workshop, according to a press release.

The objective of this workshop was to engage relevant stakeholders from sectoral ministries, financial institutions, and the private sector to collectively identify and prioritize climate change project ideas for accessing international climate finance for Bangladesh. 

It also aimed to create a better understanding among the stakeholders of the role of the ERD in the match-making process of climate change project proposals with international climate funding sources.

Amal Krishna Mandal, joint secretary and wing chief of the Economic Relations Division (ERD), said: "We are not able to show efficiency in increasing climate finance because it is a difficult and time-consuming process. The ICICF project aims to develop institutional structures, processes, and capacities for increasing access to different climate funds. One of which will be managed by us, one will be through the Governance Innovation Unit (GIU) of the Prime Minister's Office, and the other will be done by Bangladesh Bank. Also, ERD will set up an International Climate Finance Cell to coordinate international climate finance through this cell."

Md Ruhul Amin Talukder, additional secretary at the Ministry of Agriculture, said: "Bangladesh is at the front line of at-risk countries from climate change, with agriculture, being one of the most affected sectors. To address this risk, Bangladesh must be provided with adequate assistance from international climate funds. We have already contacted different development partners in this regard and expect to receive the necessary funding through the combined efforts of various stakeholders. I thank ERD and GIZ for organizing such a time-befitting workshop to discuss this important topic." 

Principal Advisor of the ICICF project, GIZ, Dr Firdaus Ara Hussain, briefly explained the scope of work of the German technical assistance project to the participants. 

She said: "The hard-earned economic development of Bangladesh is at risk due to climate change, and the existing funding sources will not be sufficient to address the adverse effects of climate change. ERD is proactively seeking to tap into moving sources of finance and recognizes its room to explore additional sources of external resource mobilization for climate change." 

The ICICF project will support ERD to strengthen the capacities of national and local actors to access different funding sources for climate change projects. 

Climate change expert Dr SM Munjurul Hannan Khan began the technical session by giving an overview of the interviews carried out earlier by the project with the relevant stakeholders to discuss priority areas for climate change action in Bangladesh.

Potential climate change project ideas from different sectors were presented, following which the participants identified priority projects based on predefined prioritization criteria. 

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