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BRAC, Germany’s KfW to set up climate change fund in Bangladesh
Bangladesh’s nongovernmental organisation BRAC and the German Development Bank or KfW have signed two agreements to set up a fund on climate change adaptation and climate-induced migration.
Published : 13 Dec 2017, 12:13 PM
Updated : 13 Dec 2017, 12:13 PM
The project called ‘Climate bridge fund’ has been drawn through consultation between the two organisations with the objective of supporting the communities of Bangladesh vulnerable to the impacts of climate change, BRAC said in a statement.
Asif Saleh, BRAC’s senior director for strategy, communication and empowerment, and Carla Berke, KfW’s head of urbanisation and mobility for South Asia, and Regina Maria Schneider, director of its regional office, signed the deals in Dhaka on Tuesday.
The initiative will provide funding to NGOs, social and private institutions to implement projects for strengthening the resilience of the vulnerable people in urban areas who are either displaced or at risk of displacement due to climate change impacts.
The fund, subject to government approval, will encourage sustainable operations and their scaling up, which traditional development projects usually cannot provide.
BRAC said more details on the project would be published in the first quarter of 2018.
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