Unlocking global climate capital
Bangladesh is stepping up efforts to attract greater international climate finance by strengthening institutional capacity, improving project preparation and expanding private sector participation, as policymakers and development partners seek to position climate investment as a key pillar of the country’s long-term economic growth and resilience.
The strategy was outlined at a high-level policy dialogue in Dhaka on Thursday, where experts said Bangladesh must improve climate literacy, develop investment-ready projects and deepen engagement with global financial institutions to unlock larger flows of international climate funding.
They stressed that the effectiveness of climate finance should not be judged solely by the volume of funds mobilised, but also by whether financing is accessible, transparent, accountable and reaches communities most vulnerable to climate change.
The dialogue, titled “Building Bangladesh as a Trillion-Dollar Climate-Resilient Economy: Accelerating Climate Finance Mobilisation Through Strategic and Investment-Ready Climate Project Designs”, was organised by the International Climate Finance Cell (ICFC) of the Economic Relations Division (ERD) under the Bangladesh Climate Development Partnership (BCDP), with technical support from the Asian Development Bank (ADB).
Bringing together senior policymakers, development partners, representatives of financial institutions and the private sector, academics and civil society leaders, the event focused on overcoming barriers that continue to limit Bangladesh’s access to major international climate finance mechanisms.
Participants said inadequate understanding of climate science, financing instruments and project preparation remains a major obstacle to securing funding from global climate funds.
They argued that enhancing climate literacy across government agencies, financial institutions and businesses is essential to designing bankable projects that meet international funding requirements.
Addressing the event as chief guest, Prime Minister’s Adviser on Finance and Planning Dr Rashed Al Mahmud Titumir linked Bangladesh’s aspiration to become a trillion-dollar economy with the need to build long-term climate resilience.
He urged policymakers to align national development priorities with international commitments, including the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework.
Titumir also called for greater mobilisation of private investment and urged international climate funds to simplify their approval processes and respond more effectively to the financing needs of climate-vulnerable developing countries.
In his keynote speech, AKM Sohel, Chief of the UN Wing at the Economic Relations Division, described climate literacy as the critical link between climate realities and financial viability.
He emphasised the need for strategic project design to enable stakeholders to develop proposals that meet the requirements of international financing mechanisms, including the Green Climate Fund (GCF).
Delivering the keynote address, ERD Secretary Md Shahriar Kader Siddiky said Bangladesh has historically struggled to secure adequate international climate finance despite being one of the countries most exposed to climate risks.
He highlighted the need to strengthen national ownership, enhance institutional capacity, adopt innovative financing models and increase private sector engagement to mobilise climate investment on a larger scale.
ADB Country Director Qingfeng Zhang reaffirmed the bank’s commitment to supporting Bangladesh’s climate agenda, stressing the importance of developing scalable and financially viable projects capable of attracting global investment.
He said the success of climate finance depends not only on the availability of funding but also on the ability to prepare projects that deliver measurable economic, environmental and resilience outcomes.
The dialogue also featured remarks from Prime Minister’s Special Assistant for Environment, Forests and Climate Change Affairs Dr Saimum Parvez, British High Commissioner to Bangladesh Sarah Cooke and UN Resident Coordinator ad interim Carol Flore-Smereczniak, alongside senior representatives from government agencies, international organisations and development partners.
Carol Flore-Smereczniak said climate finance extends beyond infrastructure and technology.
“It is about livelihoods, dignity, resilience, and the ability of communities to remain safe in the face of climate stress,” she said.
Two panel discussions examined measures to strengthen Bangladesh’s climate finance ecosystem.
The first explored how improved climate literacy could support the development of strategic, investment-ready projects, while the second focused on preparing high-quality concept notes capable of securing financing from the Green Climate Fund.
Experts also highlighted the importance of ensuring a just transition, stressing that climate investments should protect livelihoods, create green employment opportunities and ensure that workers, women, young people and vulnerable communities benefit from the transition to a low-carbon, climate-resilient economy.
The dialogue concluded with a renewed commitment from the government, development partners and other stakeholders to strengthen climate governance, expand access to international climate finance and accelerate investments that support sustainable economic growth and long-term climate resilience.
Participants said Bangladesh’s experience illustrates how climate-vulnerable countries can leverage local knowledge, institutional reforms and inclusive governance to build a more effective and equitable climate finance system.
