3:58 am, Saturday, 8 February 2025

AFD, UNDP sign €1.2m deal to boost climate resilience in Bangladesh

The Agence Française de Développement (AFD) and the United Nations Development Programme (UNDP) signed an agreement to launch Phase 2 of the Inclusive Budgeting and Financing for Climate Resilience (IBFCR) Project.

The agreement was signed at the Finance Division, Ministry of Finance in the city.

This €1.2 million grant supported the €300 million AFD Climate Policy-Based Loan Program in Bangladesh.

Stefan Liller, Resident Representative of UNDP Bangladesh, and Cecilia Cortese, Deputy Country Director, AFD, signed the deal on behalf of their respective organizations.

Marie Masdupuy, Ambassador, Embassy of the Republic of France; Dr. Md Khairuzzaman Mozumder, Secretary, Finance Division; Sirajun Noor Chowdhury, Additional Secretary, were also present, among other senior government officials.

Initiated by the Ministry of Finance of Bangladesh, this technical cooperation aimed to achieve strategic climate change-sensitive planning and budgeting management, strengthened climate public finance governance, and more effective planning and budgeting for climate finance at the local level.

UNDP’s previous work with the Ministry of Finance on the Climate Fiscal Framework (CFF) and the first phase of the IBFCR project established a foundation for climate-sensitive public finance.

The second phase would deepen climate integration into policymaking and financial management, supporting Bangladesh’s efforts against climate change and promoting resilient, low-carbon development in line with the national plan.

The Ambassador of France to Bangladesh, Marie Masdupuy said “Bangladesh has demonstrated impressive performance in accelerating economic growth and poverty reduction over the last decade despite being one of the most climate vulnerable countries of the world.”

This remarkable development faced jeopardy due to the widespread repercussions of climate change, which were affecting every sector of the economy, she added.

It was also crucial to consider the human dimension of climate change, as it had been shown that women, girls, and other socio-economically marginalized groups were more severely impacted.

In this context, the United Nations Development Program (UNDP) experience and knowledge in working with the Ministry of Finance of Bangladesh were instrumental in strengthening inclusive climate-related public planning, budgeting, and monitoring at both the national and local levels, Ms. Masdupuy noted.

“This Grant Funding agreement illustrates France’s steadfast commitment to support Bangladesh in its effort to fight against climate change while achieving a resilient and low-carbon development pathway.”

Stefan Liller said Climate-informed public finance has become a priority for Bangladesh. The country has made remarkable progress by mainstreaming climate into the Public Finance Management process.

The national budget plays a critical role in channeling climate finance at different levels. This pioneering partnership with AFD marks the first of its kind.

UNDP planned to work closely with the Finance Division, Ministry of Finance, to ensure that climate change dimensions were more effectively mainstreamed in the policymaking and public financial management systems in Bangladesh, aiming for a more climate-resilient economy.

“We are excited to be part of this initiative and deeply appreciate France’s enduring support also one of UNDPs top core donors globally,” Stefan Liller added.

Dr. Md Khairuzzaman Mozumder, Secretary, Finance Division, Ministry of Finance stated that both UNDP and AFD play a critical role in addressing Bangladesh’s development. UNDP has been a long-standing partner of the Government of Bangladesh in Mainstreaming climate into national policies, plans and budgetary processes.

He expressed hope that IBFCR II project will add new dimensions to public climate finance in Bangladesh.

As the main implementation partner of this project, Finance Division will be providing strategic guidance in respect of delivering intended outputs while enforcing coordination among the relevant agencies.

AFD, UNDP sign €1.2m deal to boost climate resilience in Bangladesh

Update Time : 08:29:15 pm, Thursday, 30 May 2024

The Agence Française de Développement (AFD) and the United Nations Development Programme (UNDP) signed an agreement to launch Phase 2 of the Inclusive Budgeting and Financing for Climate Resilience (IBFCR) Project.

The agreement was signed at the Finance Division, Ministry of Finance in the city.

This €1.2 million grant supported the €300 million AFD Climate Policy-Based Loan Program in Bangladesh.

Stefan Liller, Resident Representative of UNDP Bangladesh, and Cecilia Cortese, Deputy Country Director, AFD, signed the deal on behalf of their respective organizations.

Marie Masdupuy, Ambassador, Embassy of the Republic of France; Dr. Md Khairuzzaman Mozumder, Secretary, Finance Division; Sirajun Noor Chowdhury, Additional Secretary, were also present, among other senior government officials.

Initiated by the Ministry of Finance of Bangladesh, this technical cooperation aimed to achieve strategic climate change-sensitive planning and budgeting management, strengthened climate public finance governance, and more effective planning and budgeting for climate finance at the local level.

UNDP’s previous work with the Ministry of Finance on the Climate Fiscal Framework (CFF) and the first phase of the IBFCR project established a foundation for climate-sensitive public finance.

The second phase would deepen climate integration into policymaking and financial management, supporting Bangladesh’s efforts against climate change and promoting resilient, low-carbon development in line with the national plan.

The Ambassador of France to Bangladesh, Marie Masdupuy said “Bangladesh has demonstrated impressive performance in accelerating economic growth and poverty reduction over the last decade despite being one of the most climate vulnerable countries of the world.”

This remarkable development faced jeopardy due to the widespread repercussions of climate change, which were affecting every sector of the economy, she added.

It was also crucial to consider the human dimension of climate change, as it had been shown that women, girls, and other socio-economically marginalized groups were more severely impacted.

In this context, the United Nations Development Program (UNDP) experience and knowledge in working with the Ministry of Finance of Bangladesh were instrumental in strengthening inclusive climate-related public planning, budgeting, and monitoring at both the national and local levels, Ms. Masdupuy noted.

“This Grant Funding agreement illustrates France’s steadfast commitment to support Bangladesh in its effort to fight against climate change while achieving a resilient and low-carbon development pathway.”

Stefan Liller said Climate-informed public finance has become a priority for Bangladesh. The country has made remarkable progress by mainstreaming climate into the Public Finance Management process.

The national budget plays a critical role in channeling climate finance at different levels. This pioneering partnership with AFD marks the first of its kind.

UNDP planned to work closely with the Finance Division, Ministry of Finance, to ensure that climate change dimensions were more effectively mainstreamed in the policymaking and public financial management systems in Bangladesh, aiming for a more climate-resilient economy.

“We are excited to be part of this initiative and deeply appreciate France’s enduring support also one of UNDPs top core donors globally,” Stefan Liller added.

Dr. Md Khairuzzaman Mozumder, Secretary, Finance Division, Ministry of Finance stated that both UNDP and AFD play a critical role in addressing Bangladesh’s development. UNDP has been a long-standing partner of the Government of Bangladesh in Mainstreaming climate into national policies, plans and budgetary processes.

He expressed hope that IBFCR II project will add new dimensions to public climate finance in Bangladesh.

As the main implementation partner of this project, Finance Division will be providing strategic guidance in respect of delivering intended outputs while enforcing coordination among the relevant agencies.