Grant-based climate funding vital for vulnerable nations: State Minister
Staff Correspondent
State Minister for Environment, Forest and Climate Change Sheikh Faridul Islam on Wednesday called for adequate, grant-based, and easy-access climate finance to help climate-vulnerable countries tackle global warming.
Speaking as chief guest at a COP31 side event in Antalya, Turkey, co-hosted by the environment ministry and UNDP, he urged developed nations to scale up adaptation financing and expand flexible funding options.
Despite severe vulnerability, Bangladesh funds nearly 88 percent of its climate adaptation costs from its national budget, constructing over 4,200 cyclone shelters and mobilizing 76,000 volunteers, he noted. However, while the country requires $8.5 billion annually for adaptation, it receives only $4 billion—with less than $500 million coming from international sources.
To bridge this gap, he called for grant-based funding, direct financing to local governments, and the quick operationalization of the Loss and Damage Fund.
Chief SDG Coordinator Prof Dr SM Abdul Awal noted that LDC graduation will not reduce Bangladesh’s climate risks, making continued international support vital. Additional Secretary Mohammad Naveed Shafiullah highlighted priorities under the National Adaptation Plan (2023–2050) and NDC 3.0.
The session, moderated by UNDP’s Rohini Kohli, featured experts from the environment ministry, Sida, and IsDB, who advocated moving from fragmented projects to long-term programmatic climate investments.
