TIB urges Dhaka not to accept climate fund as credit

Dhaka,  Sun,  24 September 2017
Published : 23 Nov 2016, 21:43:34

TIB urges Dhaka not to accept climate fund as credit

TIB urges Dhaka not to accept climate fund as credit
FE Report

Transparency Intern-ational Bangladesh (TIB) on Wednesday urged the government not to accept the climate fund as credit since it is supposed to come as compensation from the industrially developed countries.

"There is no reason for receiving the climate fund as credit because the top carbon emitting nations have already pledged their support as compensation," TIB executive director (ED) Dr Iftekharuzzaman told a press conference at the TIB conference hall in the city.

The anti-corruption agency organised the event to find out Bangladesh's accessibility to climate fund and urge the authorities to ensure transparency in utilising the money, following the climate change conference (Cop22) that concluded on November 18 in Marrakech, Morocco.

Mr Iftekhar explained that the people of Bangladesh, who are the victims of the impacts of the climate change caused by green house gas (GHG) emissions by the developed nations, will suffer in the long run if the government receives the credit even at a very lower rate of interest or for a long duration.

"The development fund and climate fund are two different matters … Amalgamation of these two will hamper both the schemes," he said, urging the government to address the issues separately and efficiently.

In accordance with the agreements signed in the global climate conferences, he said, the climate funds are totally separate and additional to other financial aid for the victim nations like Bangladesh. "This issue was not clearly explained in the just concluded Marrakech conference," he noted.

Mr Iftekhar expressed concern over some international agencies' efforts in convincing the government for accepting the climate fund as credit and expected that the government would not be entrapped into the schemes offered by international lending agencies.

"We have legitimate right to ask for compensation from the polluter nations as per the agreements," he added.

Senior program manager of TIB's Climate Finance Governance Unit M. Zakir Hossain Khan said the fund for the Bangladesh Climate Change Trust (BCCT) has been decreasing every year.

It received Tk 7.0 billion in each of the first three years after it was initiated in fiscal year (FY) 2009-10. In last fiscal year, the amount was fixed at Tk 1.0 billion only.

The allocation for the Bangladesh Climate Change Resilience Fund (BCCRF) remains suspended, affecting the adaptation activities, he said.

The developed nations renewed their commitment in the Marrakech conference to increase annual financing to US$100 billion by the year 2020 to support climate vulnerable poor countries for implementing the adaptation and mitigation programmes.

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