Bangladesh is one of the top five countries in terms of leveraging multilateral development finance. Despite this, the adaptation and mitigation funding gap continues to grow as the country faces increasing impacts from extreme weather events. There is an urgent need to increase the amount of funding leveraged from multilateral and bilateral sources, the responsibility for which lies with the Economic Relations Division (ERD) under the Ministry of Finance (MoF).
Increasing impacts from extreme weather events as a result of climate change in Bangladesh is widening the funding gap in the country’s climate adaptation and mitigation funding. The Economic Relations Division (ERD) under the Ministry of Finance is aiming to increase the amount of funding leveraged from multilateral and bilateral sources to meet the growing demand. This requires a clear picture of current funding to support a resource mobilisation analysis of who the most likely funders will be, and why, and how to target these funders.
To meet this need, OneWorld was contracted to develop a comprehensive database of private and public international climate finance sources for Bangladesh and a climate finance mapping tool. OneWorld undertook a thorough climate finance baseline analysis to develop an excel database of international climate finance sources and compiled project knowledge documents.
This work was underpinned and validated through stakeholder engagements with the relevant financiers, government staff within various ministries and staff of the International Climate Finance Cell (ICFC) within the ERD. The resultant excel database formed the basis of a web-based, searchable system – a climate finance mapping tool – that supported staff of the ICFC in matching planned climate mitigation and adaptation projects with potential financiers.