BRAC and the German Development Bank (KfW), on behalf of the German Government, signed an amendment today to set up a trust on climate change adaptation and climate-induced migration.
The trust called ‘Climate Bridge Fund’ has been developed through consultation between the two organisations with the objective of supporting the communities of Bangladesh vulnerable to the impacts of climate change. The fund was originally initiated in 2017.
The amendment was signed on Thursday, October 31, 2019, at BRAC Centre in the capital. Asif Saleh, executive director, BRAC, and Anirban Kundu, director, KfW Development Bank, signed the agreement on behalf of the respective parties.
Mr Saleh said “Climate change is a critical challenge globally, and one which will be a key focus of BRAC over the next five years. This trust is a unique initiative for Bangladesh which will encourage and enable sustainable operations and their scaling up, which traditional development projects often cannot provide.”
The initiative will provide funding to NGOs, social and private sector institutions to implement projects to strengthen the resilience of people in urban areas who are either displaced or at risk of displacement due to the impacts of climate change.