The Asian Development Bank (ADB) recently approved a $400 million loan to help Bangladesh enhance its resilience against climate impacts, cut emissions in climate-critical sectors, and promote inclusive development.
The funding will support the second phase of the Climate-Resilient Inclusive Development Program (CRIDP), which includes nearly $113 million in cofinancing from the Agence Francaise de Developpement, and $400 million from the Asian Infrastructure Investment Bank (AIIB).
“The program will help Bangladesh achieve its climate goals more efficiently by bringing government agencies together and aligning their work with national policies,” said ADB Senior Public Sector Economist Sameer Khatiwada.
“It will also remove obstacles to mobilizing climate finance, reinforce adaptation efforts in priority sectors, and speed up actions to reduce climate impacts.”
Under CRIDP, the Bangladesh Climate Development Partnership will be established to secure climate finance and help government ministries to develop, implement, monitor and evaluate climate projects more effectively.
