“This assistance will help put the country on a low carbon economic growth path, make it more climate-resilient and help strengthen its food and energy security,” said Zahir Ahmad, Project Implementation Officer for ADB’s Bangladesh mission.
Along with building up the capacity of the Ministry of Environment and Forests and other government agencies, support will be given to develop specific climate change mitigation and adaption programs and projects. A sub-program will also be put in place to attract private sector businesses and other stakeholders to invest in clean energy projects eligible for carbon credits under the Kyoto Protocol’s Clean Development Mechanism.
Without addressing the impacts of climate change, Bangladesh is likely to see more hunger and increasing conflict as scarce natural resources dwindle even further in future.
The full cost of the technical assistance is estimated at $2.5 million with the Government making an in-kind contribution of $500,000. It will run for two years, starting in August 2009, with the Ministry of Environment and Forests the executing agency.
The Japan Special Fund is financed by the Government of Japan and is administered by ADB.