Bangladesh Set to Receive $30 Million from Green Climate Fund
State Minister for Climate and Environment Shaikh Faridul Islam disclosed the information during a briefing with journalists.
Bangladesh is set to receive $30 million from the Green Climate Fund (GCF) for the first time, with the funding specifically earmarked for communities living in the country's coastal regions.
State Minister for Climate and Environment Shaikh Faridul Islam disclosed the development while briefing journalists at the Bangladesh Pavilion in Antalya Expo City, Türkiye, on Thursday. Five other countries will also receive funding from the organisation to tackle climate change.
The state minister highlighted the urgent need for grant-based financing and concessional funding for climate-vulnerable countries. He stressed that adequate financial assistance, particularly in the form of grants, is crucial to helping these nations address the adverse effects of climate change.
Faridul also called on developed countries and international development partners, including the World Bank and the Asian Development Bank (ADB), to increase financial support for climate adaptation initiatives and ensure easier access to funding on favourable terms for vulnerable nations.
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