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Bangladesh is set to receive a $30 million grant from developed countries through the Climate Investment Funds (CIF) to address climate change-related losses and support vulnerable coastal communities.
The grant was announced on Thursday at the 31st UN Climate Change Conference (COP31) in Antalya, Türkiye, State Minister for Environment and Forests Sheikh Faridul Islam told a press conference at the Antalya Expo Centre in the evening.
He described the announcement as a significant achievement for Bangladesh, saying it was the first time such a grant had been announced at a climate conference.
The fund will be spent on improving the living conditions of people in coastal areas, particularly through ecosystem restoration, shelter facilities and the development of cyclone shelters in disaster-prone regions, he said.
The state minister said the government was also working to secure climate-related loans on easier terms and at lower interest rates from international development partners, including the Asian Development Bank (ADB), World Bank and Asian Infrastructure Investment Bank (AIIB).
He said grant financing and concessional loans would complement each other in implementing climate-related projects.
“This is not charity; it is their responsibility,” he said, referring to the financial support from developed countries.
Foreign Minister Shama Obayed Islam said the Environment Ministry and the Foreign Ministry had worked jointly for the first time to ensure a coordinated national position at COP31.
She said the government had held several consultations with climate experts, civil society representatives and organisations before the conference to ensure that Bangladesh spoke with one voice on climate issues.
Bangladesh’s participation was important despite the absence of several countries, she said, adding that the country had gained experience and recognition in addressing climate challenges and was taking a leadership role in climate discussions.
The foreign minister also highlighted the potential of Bangladesh’s jute sector, saying the government wanted to promote jute products globally as environmentally friendly alternatives to plastic goods and expand their exports.
Referring to bilateral engagements during the conference, she said Prime Minister Tarique Rahman had held meetings with Turkish President Recep Tayyip Erdogan, the Uzbek president, China’s vice-president, the Australian prime minister and the British foreign secretary, among other leaders and representatives.
Climate change and other areas of bilateral cooperation were discussed during the meetings, she added.
She also said the prime minister’s wife, Zubaida Rahman, had held a meeting with the Turkish president’s wife, Emine Erdogan, which she described as successful.
The Turkish side had expressed interest in Bangladesh’s jute products and offered to send an expert team to Bangladesh to explore cooperation on women’s development and the implementation of the Zero Waste initiative, she added.
