Bangladesh officially launched the second phase of the Inclusive Budgeting and Financing for Climate Resilience (IBFCR-II) project at a workshop held on Tuesday in Dhaka.
IBFCR-II is a flagship initiative designed to integrate climate priorities into the country’s budgeting and financial management systems, according to a UNDP press release.
The inception workshop, organized by the Finance Division in collaboration with the United Nations Development Programme (UNDP) and supported by the Agence Française de Développement (AFD), brought together senior government officials, development partners, academics, and climate finance experts to discuss the next steps for incorporating climate resilience into public finance.
Finance Division Secretary Khairuzzaman Mozumder emphasised the urgent need to mobilize resources for climate adaptation and resilience.
“Bangladesh is one of the most climate-vulnerable countries in the world, and our policies, programs, and financial strategies must reflect this reality. To meet our adaptation goals by 2050, we will require approximately $8.5 billion annually,” said Mozumder.
He added that it is crucial to engage all stakeholders, especially the private sector, in investing in climate change adaptation and mitigation through collaborative efforts.
“Through coordinated policies and initiatives like IBFCR, we are aligning our development efforts and mobilizing the necessary resources to build resilience and enhance our national response,” Mozumder said.
Stefan Liller, UNDP Bangladesh Resident Representative, emphasized the importance of climate-informed budgeting to safeguard the country’s development progress.
“As we move into the second phase of this program, UNDP remains committed to continuing its support for Bangladesh in strengthening systems, mobilising resources, and building resilience,” said Liller.
AFD’s Deputy Country Director Cecilia Cortese highlighted IBFCR-II’s significance as part of AFD’s broader support for Bangladesh’s climate action efforts.
Acknowledging the scale and complexity of the challenge, she expressed confidence in Bangladesh’s ability to achieve the desired outcomes.
“AFD is proud to partner with you in this vital initiative,” she stated.
The three-year IBFCR-II project will update and operationalize Bangladesh’s Climate Fiscal Framework, enhance the Climate Finance Tracking System, and develop a National Climate Finance Strategy.
Additionally, it will support local-level planning through tools such as the Local Adaptation Plan of Action and Climate Vulnerability Index, ensuring that resources are directed toward community-driven adaptation and resilience efforts.
