US$12.5mn grant deal signed with WB for climate project
Dhaka, Aug 6 (UNB) - The government on Monday signed a US$12.5 million grant agreement with the World Bank for the Community Climate Change Project (CCCP) to support communities for increasing their resilience to climate change impacts.
Additional Secretary of Economic Relations Division (ERD) Arastoo Khan and acting head of WB Dhaka office Christine Kimes signed the deal at NEC-II conference room in the city's Sher-e-Banglanagar area.
The project will channel funds to NGO-implemented sub-projects to build the capacity of communities to increase their resilience to flood, drought and saline water intrusion risks through the implementation of community-based climate change adaptation activities in poor and vulnerable upazilas.
This is the first stand alone project to be financed by the Bangladesh Climate Change Resilience Fund (BCCRF).
“Bangladesh is one of the most densely populated, climate-vulnerable countries in the world,” said Christine Kimes. “This project has the potential of fundamentally changing the lives of thousands of people by reducing their vulnerability to climate change risks.”
The BCCRF has two windows – 90 percent of its funds are allocated to public sector projects, while 10 percent of the funds will be channeled through NGOs. The Governing Council of BCCRF designated Palli Karma-Sahayak Foundation (PKSF) to be the implementing agency for the NGO window, and it will manage the US$12.5 million grant for the Community Climate Change Project.
“The project directly contributes to the government’s climate change adaptation vision,” said Arastoo Khan.
“CCCP would protect the climate vulnerable people by enhancing their adaptability to drought, flood, and saline water intrusion risks. The communities will share the lessons learned with other vulnerable communities as well.”
The project will establish a grant financing mechanism within PKSF to channel funds directly to NGOs to fund community-based climate change adaptation activities.
To be eligible for CCCP funding, the sub-projects must address at least one of the six thematic pillars of the government’s Bangladesh Climate Change Strategy and Action Plan 2009. The first call for proposals is expected by October 2012.
The Bangladesh Climate Change Resilience Fund supports implementation of Bangladesh’s Climate Change Strategy and Action Plan 2009. This is an innovate partnership between the Government, Development partners and the World Bank to address the impacts of climate Change.
The country-led mechanism will channel $170 million in grant funds to strengthen the country’s resilience to climate change. AusAID, Denmark, DFID, the European Commission, Sweden, Switzerland, and USAID have provided financial contributions.
The World Bank supports the government to ensure that the projects are implemented with due regard to economy, efficiency and effectiveness and that due diligence requirements are performed.
Additional Secretary of Economic Relations Division (ERD) Arastoo Khan and acting head of WB Dhaka office Christine Kimes signed the deal at NEC-II conference room in the city's Sher-e-Banglanagar area.
The project will channel funds to NGO-implemented sub-projects to build the capacity of communities to increase their resilience to flood, drought and saline water intrusion risks through the implementation of community-based climate change adaptation activities in poor and vulnerable upazilas.
This is the first stand alone project to be financed by the Bangladesh Climate Change Resilience Fund (BCCRF).
“Bangladesh is one of the most densely populated, climate-vulnerable countries in the world,” said Christine Kimes. “This project has the potential of fundamentally changing the lives of thousands of people by reducing their vulnerability to climate change risks.”
The BCCRF has two windows – 90 percent of its funds are allocated to public sector projects, while 10 percent of the funds will be channeled through NGOs. The Governing Council of BCCRF designated Palli Karma-Sahayak Foundation (PKSF) to be the implementing agency for the NGO window, and it will manage the US$12.5 million grant for the Community Climate Change Project.
“The project directly contributes to the government’s climate change adaptation vision,” said Arastoo Khan.
“CCCP would protect the climate vulnerable people by enhancing their adaptability to drought, flood, and saline water intrusion risks. The communities will share the lessons learned with other vulnerable communities as well.”
The project will establish a grant financing mechanism within PKSF to channel funds directly to NGOs to fund community-based climate change adaptation activities.
To be eligible for CCCP funding, the sub-projects must address at least one of the six thematic pillars of the government’s Bangladesh Climate Change Strategy and Action Plan 2009. The first call for proposals is expected by October 2012.
The Bangladesh Climate Change Resilience Fund supports implementation of Bangladesh’s Climate Change Strategy and Action Plan 2009. This is an innovate partnership between the Government, Development partners and the World Bank to address the impacts of climate Change.
The country-led mechanism will channel $170 million in grant funds to strengthen the country’s resilience to climate change. AusAID, Denmark, DFID, the European Commission, Sweden, Switzerland, and USAID have provided financial contributions.
The World Bank supports the government to ensure that the projects are implemented with due regard to economy, efficiency and effectiveness and that due diligence requirements are performed.
Comments
No Comments on this News
