Dhaka:The government of Bangladesh and the United Nations Development Programme (UNDP) have signed the Project Document for the second phase of the Inclusive Budgeting and Financing for Climate Resilience (IBFCR II). This initiative aims to enhance the integration of climate priorities into public planning, budgeting, and financing.
According to United News of Bangladesh, the signing took place at the Economic Relations Division (ERD) with ERD Secretary Md Shahriar Kader Siddiky, Additional Finance Division Secretary Md Hasanul Matin, and UNDP Bangladesh Resident Representative Stephen Rodriques representing their respective organizations.
The project, funded by Agence Française de Développement (AFD), will be led by the Finance Division with technical and implementation support from UNDP. Building on its first phase, IBFCR II aims to improve climate-sensitive public financial management and ensure more effective planning, tracking, and usage of climate finance, especially for vulnerable areas and communities.
As part of the project, Bangladesh will update its climate finance tracking methodology, strengthen the Climate Fiscal Framework, and develop a National Climate Finance Strategy. The project will also focus on enhancing ex-ante climate budgeting, introducing climate budget geotagging, and improving the tracking and reporting of climate finance to benefit vulnerable areas.
The initiative will involve collaboration across key government institutions, including the Ministry of Planning, Office of the Comptroller and Auditor General, Bangladesh Bureau of Statistics, Local Government Division, and other relevant ministries and agencies. Training, technical assistance, and improved digital tools will be provided to support officials in systematically using climate evidence for planning and financial decision-making.
Running until December 2027, the project also aims to strengthen evidence on local climate finance and household expenditure related to climate shocks. This will aid policymakers in understanding resource needs and improving public finance responses to climate challenges.
Shahriar Kader emphasized the importance of understanding financing needs and coordinating resources to align climate finance with national priorities, directing more resources to vulnerable areas. Stephen Rodriques highlighted the need for systems that translate into practical improvements for communities most affected by climate change, ensuring resources effectively address local priorities and climate risks.