Dhaka:Bangladesh has been chosen as one of the five countries for the initial phase of a new climate resilience investment programme by the Climate Investment Funds (CIF). This initiative aims at enhancing climate adaptation projects and mobilizing financing.
According to United News of Bangladesh, the other countries selected alongside Bangladesh are Haiti, Kyrgyz Republic, Morocco, and Sierra Leone. Additionally, a regional programme involving Malawi and Mozambique has been included. This selection is part of the Accelerating Resilience Investments and Innovations for Sustainable Economies (ARISE) programme, where each chosen country can prepare an investment plan to seek up to US$30 million in financing, while the regional programme can aim for up to US$40 million.
The selection process reviewed 25 expressions of interest, representing over US$700 million in potential investment opportunities across various sectors such as agriculture, food systems, water security, infrastructure, energy, coastal resilience, blue economies, natural resources, financial services, and adaptive social protection. The selected countries will collaborate with their respective multilateral development bank partners to develop these investment plans.
The ARISE programme, launched at COP30 last year, initially received more than US$100 million in funding commitments from Germany, Spain, and Ireland. Recently, the United Kingdom has confirmed additional funding of up to US$128 million through reflows from CIF's existing resilience programme. The initiative aims to strategically use concessional financing to attract larger public and private investment flows, strengthen climate-vulnerable sectors, protect livelihoods, and support long-term economic growth.