Bangladesh Launches Climate Change Resilient Fund

5 June 2010

Bangladesh signed an agreement to set up a Climate Resilient Fund with the UK, Sweden, Denmark and the EU at a ceremony featuring Dr. Hasan Mahmud, State minister, Ministry of Environment and Forest, and ambassadors from the contributing countries in Dhaka on 31 May. Connie Hedegaard, EU Commissioner for Climate Action was also present. The total amounts initially pledged are over $100 million which will be used to implement the Bangladesh Climate Change Strategy and Action Plan (which includes both adaptation and mitigation actions). 'This is a pathbreaking example for an innovative new approach in national climate action,' said Dr. Saleemul Huq, senior fellow of the International Institute for Environment and Development.  'This is a developing country taking the lead on national climate action with coordinated support from other countries, and showcases a new paradigm based on transparency for both donor countries and citizens'. The Climate Resilient Fund will consist of contributions from developed countries and supplement the $100 million already allocated in Bangladesh's national budget for implementing its Climate Change Strategy.