Private sector to lead climate resilience in Bangladesh, elsewhere in South Asia: World Bank
More than three-quarters expect a weather shock in the next 10 years, and 63% of firms and 80% of households have taken action, mainly through low-cost solutions rather than advanced technologies or public infrastructure, it added.
Bangladesh and other South Asian countries will increasingly rely on private sector–driven solutions to withstand intensifying climate threats, the World Bank has said.
In a press release issued today (24 November), the lender said Bangladesh and other South Asian countries are facing growing climate threats, with nearly 90% of the region's population expected to experience extreme heat and about a quarter at risk of severe flooding by 2030.
Rising water and soil salinity in coastal areas are already affecting millions of people in Bangladesh, it added.
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In the press release, titled "Bangladesh and Other South Asian Countries' Climate Resilience Will Be Private Sector Led," the World Bank said households and firms currently bear most of the burden of climate adaptation.
More than three-quarters expect a weather shock in the next 10 years, and 63% of firms and 80% of households have taken action, mainly through low-cost solutions rather than advanced technologies or public infrastructure, it added.
A survey of 250 coastal villages highlighted climate-resilient infrastructure as the most urgent unmet need, the international lender said.
In the long term, 57% of households cited inadequate disaster-protection infrastructure and 56% reported limited financial resources as key challenges. Poor and agricultural households are disproportionately affected, says the press release.
Public investments such as embankments and cyclone shelters have helped save lives, the bank said. It cited case studies from Bangladesh, India, and Pakistan, which show that well-targeted social assistance programs, combined with up-to-date information, can be quickly scaled to support vulnerable communities.
With limited government budgets, private sector adaptation is seen as essential by the World Bank.
Jean Pesme, World Bank division director for Bangladesh and Bhutan, said scaling up early warning systems, social protection, climate-smart agriculture, and adaptation finance is critical for the country's resilience.
The bank also emphasised improving early warning systems, access to formal credit and insurance, and targeted urban interventions.
About one-third of climate-related losses could be avoided if private investments are directed to where they are most needed, it said, adding that governments can facilitate this by expanding finance access, improving transport and digital networks, and ensuring flexible social support.
Siddharth Sharma, World Bank lead economist and co-author of the report, said Bangladesh is a test case for climate adaptation in South Asia.
Urgent, coordinated action from both the government and the private sector is necessary, the bank said.
It added that targeted investments, strong institutions, and partnerships between government, private sector, and communities can accelerate the adoption of climate-smart solutions, reduce vulnerability, and promote sustainable development.
