A helping hand for Bangladesh like countries in access to global funds

Mehedi Al Amin

Published: December 5, 2023, 02:06 AM

A helping hand for Bangladesh like countries in access to global funds

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Mehedi Al Amin from Dubai, UAE

COP28 declaration on climate, relief, recovery and peace came on the fourth day of the global summit that can help Bangladesh and other countries vulnerable to climatic change in access to global funds.

This instrument will support vulnerable countries for project and program preparation to enable access to global climate funding mechanisms and other funding opportunities.

Under this declaration countries like Bangladesh that are struggling to get finance from the global climate funds due to complex application procedures, will be benefited. This declaration will help affected countries through harmonizing and standardizing application procedures for various finance providers.

In this instrument, countries committed to provide policy support, frame, frameworks, guidance, and other process considerations to ease funding application procedures.

There shall be some dedicated capacity-building programs for affected governments and communities to access, absorb and utilize funds.

The declaration will work with new and tailored financial instruments to improve affected countries’ enabling environment and reduce perceived risks and improve affected countries’ fiscal space to act and respond prior, during and after extreme events.

Supporting regional organizations in developing and implementing climate-sensitive peace and development strategies is also in the declaration which can accelerate cross boarder program implementation with our neighboring countries.

This document will also provide conflict-sensitivity frameworks, from project conception to completion, and enhanced flexibility to adjust projects and operational protocols to changing situations in the project location.

Arif Hossain, Chief Executive Officer of Farming Future Bangladesh told The Report, “This is a timely and great initiative. It came in such a time when many of the most vulnerable countries are not getting access to global climate funds though they are the needy.”

“Bangladesh is one of the top climate vulnerable country ranked seventh in the index, suffering from various climate induced natural calamities and disasters, crop and production loss, adequate irrigation, unwanted migration. But the country has received significantly low finance from the various global climate funds.

In this situation this instrument can make Bangladesh technically sound in fund seeking and create impact on finance providers to give priority in our applications, he said.

“However, there is a huge potentiality that the war and war centric activities and relief, projects may get more importance than the climate resilience. If it happens, that will be a misuse of this declaration, he added.  

Young climate activist and environmentalists appreciated this initiation under conditions.

Sohanur Rahman, Executive Coordinator of Youth Net Bangladesh said, “In case of relief related to war for muscle power and weapon business must exclude from this declaration.

“But, if the war comes for proper distribution of global natural resource, that need to be consider under this declaration. The war comes here because` there is a huge relationship between conflict, war, relief and the peace.

 He said, “this declaration will have no effect if we do not stop using fossil fuel. If you continue fossil fuel burning and give some money to some effected countries, there will be no positive outcome.

If we come to money, only 2 per cent of adaptation finance reaches to the effected community. In this situation anticipatory fund can be helpful, he said.

“Now people migrating to Dhaka inside the country, but, this migration flow will find the way to Europe and other developed countries. So, the developed country must come forward. If they do so, the declaration can change the whole scenario, he said.

An early warning system may save many lives and assets. So the declaration should concentrate in disaster preparation and early warning system.

Granular and integrated risk assessments and risk mapping across sectors, ensuring availability of data are also recognized in the declaration. 

This document also includes knowledge on good practices of risk mitigation, management and lessons learned on working more effectively in crisis settings, building on the ample evidence of successful operations and projects led by or in partnership with local communities.

So far 70 countries endorsed this declaration.

The Climate Relief, Recovery, and Peace Declaration is a voluntary commitment to increase climate adaptation efforts and access to finance for communities and countries threatened or affected by fragility or conflict, or facing high humanitarian needs and insecurity; to strengthen knowledge and programmatic solutions for climate action in such locations; and to foster collaboration across humanitarian, development, climate and peace actors to address the multi-dimensional challenges of climate change.

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