Finance
ADB Bangladesh to benefit from ADB's $100 billion financing in the climate sector
Dhaka, May 5: The world is warming faster than it has since pre-industrial times. Asian countries account for nearly half of the world's carbon emissions. The Asian Development Bank (ADB) is ambitious to target USD 100 billion in climate finance between 2023 and 2030. Currently ADB has 68 member countries. Of these, 48 are located in Asia and the Pacific. The remaining 19 countries are outside these two regions. The organization will finance 100 billion US dollars in these countries. Bangladesh will also get loans under the project from this financing.
This information was given in a press release sent by ADB on Thursday (May 4).
The 56th Annual Conference of the Asian Development Bank (ADB) is being held in Incheon, South Korea. The second day of the conference on Wednesday (May 3) was the 'Governors' Seminar'. That is, the seminar with the members of the ADB Board of Directors. This brings up the issue of climate change. Basically, the finance ministers of the member countries or central bank heads are the governors of ADB. The theme of this year's conference is 'Rebounding Asia: Recover, Reconnect, and Reform'. ie 'Asia's Resurgence: Recovery, Reintegration and Reform'. This was the topic of discussion in the seminar.
Indian Finance Minister Nirmala Sitharaman, German Parliamentary State Secretary for Economic Cooperation and Development Niels Annen and ADB President Masatsugu Asakawa participated in the discussion. The seminar was moderated by journalist and president of SOAS University of London, Zainab Badawi.
According to ADB, the Asian Development Bank is launching an innovative climate finance facility in Asia and the Pacific region. This is a groundbreaking project, which will help ADB accelerate much-needed climate finance. Through the leveraged guarantee mechanism, up to USD 15 billion can be invested in new climate investments by guaranteeing USD 3 billion. Thus, by 2030, the organization has taken the ambition to finance 100 billion US dollars in the climate sector. Asian countries can use this money properly and rationally.
Being a member country of ADB, Bangladesh can share 100 billion US dollars. The environment is losing balance due to climate change. Which is having a negative impact all over the world. It is having a terrible impact in Bangladesh. The faster the climate is changing, the faster its adverse effects are becoming visible.
