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Climate Change Resilience Fund was established:Bangladesh To Receive $110 Million

 

After a long time period Bangladesh finally reached the Climate Change Resilience Fund .The government of Bangladesh has set up a fund to channel a minimum of $110 million to millions of citizens around the country to strengthen resilience to the effects of climate change.

The ground-breaking Bangladesh Climate Change Resilience Fund was established on Monday with the signing of a Memorandum of Understanding between the Bangladesh government and five development partners, a British High Commission press statement said in the capital, Dhaka on Tuesday.

The fund will support implementation of Bangladesh,s Climate Change Strategy and Action Plan for 2009-2018 by supporting vulnerable communities in adapting to greater climate uncertainty and changing agricultural conditions.

It will be managed and implemented by the Bangladesh government, with initial contributions of $1.6 million from Denmark, $10.4 million from the European Union, $11.5 million from Sweden and $86.7 million from the United Kingdom as grants, according to the statement.

The World Bank will provide technical support and ensure that due diligence requirements are met.

The fund will have a two-tiered governance structure, consisting of a governing council and a management committee, both of which will be chaired by the government, and include representatives from line ministries, development partners and civil society, the statement said.

 

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