BRAC Bank has formed a strategic partnership with the United Nations Environment Programme (UNEP), UN Women, and BASE to launch a climate finance initiative aimed at empowering women-led small and medium enterprises in Bangladesh’s coastal region.
The programme titled ‘EmPower: Women for Climate-Resilient Societies’, aims to provide access to renewable energy technologies for women entrepreneurs, enabling them to adapt to climate change and enhance the sustainability of their businesses.
Coordinated by BASE, the project will address the financial needs of women entrepreneurs and other marginalised groups by providing them with climate finance to adopt renewable energy solutions, helping them withstand environmental pressures and ensure business continuity.
With support from the Centre for Entrepreneurship Development (CED) at BRAC University, BRAC Bank will offer a $3 million loan portfolio tailored specifically for women entrepreneurs.
This initiative is designed to meet the unique challenges of these businesses, providing them with financial solutions that foster sustainable operations and growth in the face of climate risks.
Syed Abdul Momen, additional managing director and head of SME Banking at BRAC Bank, told the TIMES of Bangladesh, “Women entrepreneurs are driving change in some of the most climate-affected parts of the country, yet they remain underserved by traditional finance.”
“Through this initiative, we are designing financial solutions that reflect their realities, supporting their businesses today and strengthening their ability to adapt for tomorrow.”
The project also includes training, product development, and research efforts aimed at strengthening the framework for sustainable finance within Cottage, Micro, Small, and Medium Enterprises (CMSMEs). This comprehensive approach will support the broader ecosystem for sustainable economic growth in Bangladesh, empowering women entrepreneurs and ensuring they have the tools needed to thrive.
This collaboration demonstrates BRAC Bank’s continued commitment to responsible banking, climate action, and the empowerment of women through inclusive financial solutions. By partnering with UNEP, UN Women, and BASE, BRAC Bank aims to make a significant contribution to climate-resilient economic development in Bangladesh.