Training on 'innovative financial instruments for climate action' held in Habiganj
A high-level training programme titled "Training on Innovative Financial Instruments for Climate Action" was held at The Palace Luxury Resort in Habiganj recently.
Economic Relations Division (ERD) of Finance Ministry and the Improved Coordination of International Climate Finance (ICICF) project, implemented by GIZ Bangladesh on behalf of the Federal Government of Germany, jointly organised the event, said a press release.
The training was set up so that key people in Bangladesh who work on climate finance could learn about the different financial instruments and mechanisms that are being used or have a lot of potential to help raise money for climate finance around the world.
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Senior officials from ERD, Finance Division, Financial Institutions Division, and Bangladesh Bank, as well as representatives from academia and financial institutions participated in the training.
The training sessions were conducted by notable topic experts, including SM Mahbub Alam from ERD, Dr Suborna Barua from Dhaka University, Chowdhury Liakat Ali from Bangladesh Bank, MJ Azim from Pragati Insurance and Ranjit Kumar Chakraborty, retired additional secretary to the Government of Bangladesh.
The topics covered during the training included different types, forms and modalities of climate-relevant financial instruments such as green bonds, equities, guarantees, climate risk insurance as well as their diverse applications for climate mitigation or adaptation projects in Bangladesh
Sharifa Khan, secretary of ERD, was present as chief guest at the event.
She mentioned, "As Bangladesh graduates from its Least Developed Countries (LDC) status by 2026, the amount of Overseas Development Assistance (ODA) received by the country will decline substantially. It is therefore essential to explore different modalities and avenues for mobilizing investments towards addressing climate change issues in the country".
Dr Firdaus Ara Hussain, principal advisor of ICICF Project, GIZ Bangladesh, highlighted the different initiatives undertaken by the German Government to support the Government of Bangladesh in the field of climate finance.
The event was concluded by Sharifa Khan, thanking everyone for their valuable contributions and active participation in the event.
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