ADB Promotes Climate-Smart Development Investments in Bangladesh

DHAKA, Nov. 28 (NsNewsWire) — The Government of Bangladesh, Asian Development Bank (ADB) and stakeholders at a dissemination forum today discussed tools for designing climate-smart development projects.

Programming Division, Planning Commission of Bangladesh and ADB jointly organized the dissemination forum on “Establishing a Climate Risk Screening System for Mainstreaming Climate Change Adaptation into National Development Budgeting Activities” at Hotel Pan Pacific Sonargaon, Dhaka. The event showcased and discussed the tools designed under an ADB technical assistance “Action on Climate Change in South Asia (TA 8572 REG)”.

Planning Division Senior Secretary Md. Ziaul Islam; Planning Commission members Mohammad Asif-uz-Zaman and Shamima Nargis; Chief, Programming Division, Planning Commission, Md. Sayeedul Haque, among others, attended the event. ADB Country Director for Bangladesh Manmohan Parkash spoke as guest of honor. About 90 government officials, academics, researchers, development partners, NGOs and civil society members participated in the event.

“Bangladesh is highly vulnerable to climate risks,” said Country Director Manmohan Parkash. “The tools developed with ADB-assistance will help make right climate-smart investments, leading to optimal use of public resources.”

The project’s central output is a customized climate risk and vulnerability assessment tool and system aimed at guiding government agencies, departments and ministries in incorporating climate change adaptation and mitigation options in project design. The tool will also help the Planning Commission to ensure that public sector investment projects in the Annual Development Programme are resilient to potential damages due to climate change and natural hazards.

The project also pilot-tested the climate risk and vulnerability assessment tool on three agriculture and water resources projects in Barisal, Rajshahi, and Sylhet, and conducted trainings for government officials on CRVA and cost-benefit analysis of climate change adaptation.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.