Bangladesh will get $20 million for reducing the risks of damages caused by natural disasters and climate change.
The United Nations (UN), the European Union (EU) and Sweden joined hands together to provide the fund to address the country's key climate change priorities set out in the Seventh Five Year Plan.
The fund will be provided under the project titled Local Government Initiative on Climate Change (LoGIC), launched yesterday in the Economic Relations Division (ERD) in the capital city.
The project will be implemented in the next four years in seven most climate vulnerable districts where around two lakh most vulnerable households will be better prepared for reducing the risks of damages caused by natural disasters and climate change.
The project will also set a mechanism to allow the local government institutions and vulnerable households to get access directly to the knowledge, technology and financing necessary to adapt to climate change.
"The projects like LoGIC could be extremely useful to harness the potential of local community through engaging them in developing the Local Development Plan," Senior Secretary of ERD Mohammad Mejbahuddin said at the launching programme.
EU Ambassador Pierre Mayaudon, Swedish Ambassador Johan Frisell and UN Resident Coordinator Robert Watkins also spoke on the occasion.
Mayaudon said the EU is glad to be a partner of the government and the people of Bangladesh in increasing resilience and better preparedness for reducing the risk of climate change - a big threat to humanity.
"Sweden is enthusiastic about supporting investments close to vulnerable communities and households that will build resilience in the face of climate change and contribute to poverty alleviation," said Johan Frisell, Ambassador of Sweden.
Robert Watkins said the onslaught of climate change is a major risk factor for Bangladesh to become a middle income country, achieving higher growth.
But, he noted that Bangladesh has set a positive example in this regard as the country became one of the first few nations to mobilise own resources to tackle climate change.
Source: Bangladesh Sangbad Sangstha (BSS)