More than half of Bangladesh’s national climate fund allocated in a span of 14 years – an estimated $248.4 million (over Tk2,110 crore) – has been lost to corruption, according to Transparency International Bangladesh (TIB).
A new TIB report reveals that the misused funds were part of $458.5 million allocated to the Bangladesh Climate Change Trust Fund (BCCTF) between 2010 and 2024.
The report, titled “Challenges of Good Governance in Climate Finance and the Way Forward in Bangladesh,” was unveiled on Tuesday morning in Dhanmondi, Dhaka.
“Politically influential individuals have embezzled this money due to a lack of accountability, good governance, and institutional efficiency. This must change,” said TIB Executive Director Iftekharuzzaman at the event.
He emphasised that without transparency, accountability, and the participation of genuine beneficiaries, sustainable development will remain unattainable.
Iftekharuzzaman added that Bangladesh requires $10–$12 billion annually in climate compensation to cope with the impacts of climate change. However, between 2003 and 2024, the country received only $1.2 billion – a negligible amount compared with its actual needs.
The report highlights widespread political influence, collusion, and nepotism in project approvals, while BCCTF officials have failed to take effective measures to prevent irregularities.
TIB further noted that Bangladesh needs about $12.5 billion a year to address climate impacts. Yet, from 2015 to 2023, the combined annual allocation from national and international sources averaged only $86.2 million – just 0.7% of the required amount.
The report also shows that allocations from the national fund have declined by an average of 8.2% per year, while funding from international sources has increased by 43.8%. However, the overall amount remains far below the national requirement.
Implementation delays and inefficiency are also widespread. Of the 891 projects under the national fund, 549 had their deadlines extended. On average, projects scheduled for 648 days took 1,515 days to complete – a 133% time overrun. In some cases, four-year projects dragged on for as long as 14 years.
A similar trend was observed in international funding as well, with 21 out of 51 projects requiring extensions, their durations increasing by an average of 52%.
