Budget FY25: Special allocation of Tk100 crore for combatting climate change impact

The new FY 2024-25 budget included a special allocation of Tk100 crore for increasing the capacity of climate change adaptation and reducing the cimate change impact.

While presenting budget in front of the parliament, Finance Minister Abul Hassan Mahmood Ali said, "To address the impact of climate change, we formulated the Bangladesh Climate Change Strategy and Action Plan [BCCSAP] in 2009, which is currently being updated. To implement the programmes mentioned in the BCCSAP, Tk3,969 crore has been allocated from FY2009-10 to FY2023-24 for the management of the Climate Change Trust Fund [CCTF] formed by the government's self-financing. Under CCTF a total of 969 projects [including 908 public and 61 private projects] have been undertaken so far."

Of these, 721 projects have been successfully completed. In addition, the Bangladesh Climate Fiscal Framework was formulated in 2014, which has been updated in 2020. Adaptation and mitigation activities to face climate change risks are being given importance in all development plans of the government.

Moreover, climate change implications are being taken into consideration while evaluating all government project proposals. Currently, we are assessing the amount of climate-related allocation and actual expenditure in the budgets of 25 climate-related ministries/ divisions.

In addition, Bangladesh Climate and Development Platform (BCDP) has recently been set up for proper coordination of the projects undertaken to combat the impact of climate change. Bangladesh is one of the most vulnerable countries to the impact of climate change.