Bangladesh is among six countries covered by a new initiative aimed at expanding access to climate adaptation finance across climate-vulnerable communities in South and Southeast Asia and the Pacific.
The initiative, known as ICCAP, is funded by the German government's International Climate Initiative (IKI) and the Federal Ministry for Economic Cooperation and Development (BMZ).
The other participating countries are Bhutan, Cambodia, Fiji, Laos and Nepal.
According to project representatives, an international consortium is working to channel climate adaptation funding to local communities and promote investment in climate-resilient development.
As part of the initiative, the Association of Food and Agricultural Credit Associations (APRACA) is working with policymakers to create an enabling environment for climate-friendly investment. Meanwhile, the Stockholm Environment Institute (SEI) is engaging with communities on the ground to assess local needs and priorities.
The consortium is expected to formally begin its activities by the end of 2027.
By 2029, the initiative aims to directly benefit 14,000 people and indirectly reach at least two million people through climate adaptation interventions.
Efforts are currently underway to connect local stakeholders with domestic and international investors to accelerate implementation.
Dr Enayet Karim, editor of The Daily Industry, discussed climate and environmental programme financing in Bangladesh with an ICCAP representative on the sidelines of the IMF and World Bank annual meetings in Bangkok.
