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Business Insider Bangladesh

ADB pledges to boost cooperation in Bangladesh climate actions: Saber

BI Desk || BusinessInsider

Published: 23:21, 31 March 2024  
ADB pledges to boost cooperation in Bangladesh climate actions: Saber

Photo: Collected

Environment, Forest and Climate Change Minister Saber Hossain Chowdhury on Sunday said as Bangladesh is badly in need of resources to combat climate change, the Asian Development Bank (ADB) will increase its cooperation for taking actions in this regard.

With a staggering requirement of USD 9 billion for climate action, the minister highlighted the government's allocation of USD 3.5 billion earmarked for infrastructure development, disaster management, and education.

He said the government wants Bangladeshi projects to be assisted by international development partners, reports BSS.

The Environment Minister made the remarks while speaking at a meeting with an ADB delegation, led by the bank’s Vice President Fatima Yasmin, at the Bangladesh Secretariat here.

Edimon Ginting, the Country Director of ADB in Bangladesh, also attended the meeting, a ministry press release said.

Acknowledging the reluctance of the private sector to invest in adaptation efforts, Saber Chowdhury stressed monetizing adaptation and prioritizing locally led initiatives.

Additionally, he underscored the need for addressing transboundary air pollution, which accounts for 30 percent of air pollution in Bangladesh.

He said Bangladesh affirmed its dedication to conducting research for the betterment of the global community.

During the meeting, Fatima Yasmin expressed ADB's unwavering commitment to supporting Bangladesh in implementing crucial initiatives such as the Delta Plan, Mujib Climate Prosperity Plan, and National Adaptation Plan.

She reaffirmed ADB's strong partnership with Bangladesh and its dedication to undertaking transformational projects with a heightened focus on climate change resilience.

Fatima said out of the total allocation of USD 9.8 billion, ADB has pledged USD 2 billion specifically for Bangladesh, signifying its profound commitment to the nation's sustainable development goals.

This meeting marked a significant milestone in the ongoing collaboration between Bangladesh and the Asian Development Bank, highlighting the shared commitment to addressing climate change and fostering sustainable development.

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Budget 2020-21