Bangladesh just secured $400 million from the Asian Development Bank (ADB) to help the country better handle climate disasters and cut greenhouse gas emissions, according to an announcement today. The funding supports the second phase of the Climate-Resilient Inclusive Development Program, which has attracted nearly $113 million more from France’s development agency and another $400 million from the Asian Infrastructure Investment Bank. This brings the total package to over $900 million for a country that faces some of the world’s most severe climate threats.
Bangladesh desperately needs this kind of help – scientists warn the country could lose a third of its economy by 2070 if global emissions keep rising at current rates. Tropical cyclones already cost about $1 billion in damages every year, while severe flooding could shrink the economy by 9% compared to expected growth by 2050. The country might lose 17% of its land and 30% of its food production within 25 years, creating a food security crisis for millions of people.
The program tackles these challenges by getting government agencies to work together better instead of operating in silos. It will create the Bangladesh Climate Development Partnership to help ministries secure climate funding and manage projects more effectively. The initiative also focuses on local adaptation measures that respond to young people’s needs and gender issues, plus developing insurance products to help farmers and communities bounce back from disasters.
ADB Senior Public Sector Economist Sameer Khatiwada explained how the program aims to make climate action more coordinated and effective. The funding will help remove barriers to getting climate finance while strengthening the country’s ability to adapt to changing weather patterns and reduce emissions in key sectors like transport and energy.
The loan comes with practical components like updating Dhaka’s transport master plan for 2025-2034 and monitoring renewable energy projects under the national power plan. By creating better institutional frameworks and increasing private sector involvement, Bangladesh hopes to build the kind of climate resilience that protects both its economy and its people from increasingly severe weather events.
