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PM Sheikh Hasina has achieved a lot of prestigious awards and honours across the globe and has established a positive image of Bangladesh since coming to power in 2009. Not only that, but also Bangladesh has played the role of president in different segments – especially in areas of climate change – on the global platforms. Everybody knows Bangladesh is in danger because of global warming.
In each of the meetings, the PM demanded protection of the world against any danger of climate change. Because of global warming, the whole world is in danger. Those most responsible for global warming must pay for improving the situation. To this effect, Bangladesh has played a tremendous and exclusive role to improve the scenario of climate change. PM Sheikh Hasina has recently been awarded the Asia Climate Mobility Champion Leader as part of recognising her leadership in championing climate actions.
The Global Centre for Climate Mobility, supported by the International Office of Migration (IOM) and the United Nations (UN) system, conferred the award during a high-level panel on the sidelines of the COP28 in Dubai. Information and Broadcasting Minister Hasan Mahmud, who led the Bangladesh delegation in the COP28's high-level segment, received the award on behalf of the prime minister.
The President of the UN General Assembly, Ambassador Dennis Francis, and the Director General of IOM, Amy Pope, co-hosted the high-level panel. At the plenary session on the event, highlighting Bangladesh's initiatives under the leadership of Sheikh Hasina to offset the climate change challenges, including the construction of the world's largest multi-storied social housing project in Cox's Bazar for rehabilitating 4,400 families displaced due to climate impacts. Speaking at the high-level panel titled "Harnessing Climate Mobility for Adaptation and Resilience," it was said that it was high time to mainstream the issue of climate mobility into the global climate change discourse. The government of Bangladesh has already taken several initiatives to protect against the threat of climate change.
The award is a significant international recognition of PM Sheikh Hasina and the country's continuous advocacy for addressing climate mobility and the challenges derived from it. Botswana, Suriname and Palau also received the award from Africa and the Pacific. The Global Centre for Climate Mobility works for cooperative and comprehensive solutions to addressing climate mobility by collaborating with the United Nations system, regional intergovernmental organisations, and development finance institutions. During COP27, the award was given to five African heads of state and government as Climate Mobility Champion Leaders. So this prestigious award for the Bangladeshi PM also increases the honour and prestige of every citizen and instigates to save the environment properly.
It is great news that, at first in the Asia case, development partners have come together to announce an $8 billion fund to help Bangladesh mitigate and adapt to the effects of climate change. This collaborative approach is being spearheaded by the International Monetary Fund. "Bangladesh has been at the forefront of those warning about the elevated risks of climate change for vulnerable countries as well as stressing the importance of international collaboration to support those in need," said Kristalina Georgieva, the MD of the IMF. The country has made significant strides to bolster climate resilience, adaptation, preparedness, and conservation, she said in a statement released on the sidelines of COP28, which is currently taking place in Dubai. "We commend Bangladesh's steadfast implementation of their climate agenda and their tireless efforts to promote global collective action to address climate change," she added.
It is known that, the development partners that have come together for the Bangladesh Climate and Development Platform (BCDP) are the Asian Development Bank (ADB); World Bank; International Finance Corporation (IFC); Multilateral Investment Guarantee Agency (MIGA); Asian Infrastructure Investment Bank (AIIB); Agence Française de Développement (AFD); the EU and the European Investment Bank (EIB), as part of Team Europe; the Green Climate Fund (GCF), the government of South Korea; Japan International Cooperation Agency (JICA), Standard Chartered Bank and the UK.
From the news media, we see that, the partnership takes place in the context of the $1.4 billion Resilience and Sustainability Facility (RSF) arrangement approved by the IMF in January, the programmatic series of Green and Climate Resilient Development (GCRD) Policy Credits by the WB totaling $1 billion, and the ADB's ongoing funding for climate projects in Bangladesh. World Bank Group President Ajay Banga said, Bangladesh's strong commitment to collaborating with international and local partners to address climate challenges. "The urgency is high, and we all need to work together to share knowledge and provide financing to the countries that are most vulnerable to the impacts of climate change."
The ADB is processing a $400 million policy-based loan to Bangladesh, while about 53 percent of its 2023 project financing ($1.9 billion) has been allocated towards climate financing so far. The Manila-based lender is also committed to allocating more than half of its 2024–26 allocation for Bangladesh ($5.5 billion) in support of the government's climate agenda. ADB President Masatsugu Asakawa said: "Climate risk is growing, and addressing it requires progressive action and strong partnerships. With commitment and leadership, Bangladesh has made significant progress in advancing its climate agenda." "ADB is firmly committed to working with all development partners to support Bangladesh in the fight against climate change."
The Korean government pledged $50 million, and the AIIB is considering the provision of an additional $400 million in 2024 at the request of the government. The UK, through its Taskforce on Access to Climate Finance, will support improved coordination of bilateral climate finance as well as support to the government to increase access to all sources of climate finance, building on a country-owned programmatic approach to climate finance.
The GCF is supporting several public and private sector projects, totaling over $400 million, including national direct access entities and in sectors such as energy, agriculture, water management, and resilient livelihood. In addition, several other multi-country programmes, which include Bangladesh, are in the GCF's pipeline. Team Europe has committed to providing an EU-guaranteed EIB loan of $381.5 million in support of renewable energy projects in Bangladesh. The Renewable Energy Facility is expected to mobilise up to $763 million in investments and contribute to the installation of an estimated 750 MWp of new renewable energy capacity in Bangladesh.
The EIB support will be accompanied by an EU grant worth $49 million, including Technical Assistance ($6.5 million) and an Investment Grant ($42.5 million) provided under the EU Global Gateway strategy. AFD is processing a $320 million climate policy-based loan programme, aligned and complementary to the IMF, WB and ADB commitments. JICA will support the BCDP by enhancing its project pipelines to align with Bangladesh's climate change agenda through a combination of technical assistance, concessional loans, and grants.
UNDP will continue providing technical assistance to the government on strategic climate change sensitive planning and budgeting management and strengthening climate public finance governance. Bangladesh is currently receiving funding for nine private-sector climate projects with contributions of $441.2 million from the GCF, $135.5 million from other development partners, national implementing entities, and private banks. Therefore, it’s a great privilege for Bangladesh to use the expected funds properly. A general perception in this case is that the international organisation donates funds for Bangladesh to work on issues as pilot project. All of these are known.
Bangladesh always plays an effective and efficient role in climate change issues. The development partners and international organisations will then use the Bangladeshi model to protect the globe from deterioration of climate change effects. The Bangladesh PM must apply strict policy to ensure proper utilisation of the funds that is also expected to instigate others.
The writer is Assistant Professor and Chairman, Department. of Criminology and Police Science, University of Chittagong
Messenger/Fameema
