Training on Adaptation Finance: Enabling Direct Access to the Green Climate Fund in Bangladesh

Phase I: Climate science in climate finance

This training aims to sustainably build the capacity of the entire fund access ecosystem to improve the robustness of the climate science basis in developing adaptation concept notes and funding proposals for the Green Climate Fund

Event description

Bangladesh is high on the list of countries most vulnerable to climate change, ranking seventh on the 2021 World Climate Risk Index. Climate change-induced natural disasters plague Bangladesh due to its geographic location and flat, low-lying topography. Its high population density, poverty, and reliance on climate-sensitive sectors for water and food security increase its vulnerability to climate change. Climate-induced disasters are exacerbating stresses on Bangladesh’s otherwise tremendous development trajectory, impeding socioeconomic progress and human well-being.

The needs of Bangladesh for financing to adapt to the impacts of climate change are significant and cannot be covered by a single financial mechanism. Actions to close the adaptation financing gap must therefore target multiple sources, both public and private, and international and domestic, while exploiting complementarities. The Bangladesh National Adaptation Plan (NAP) identified a financing need of US$203 billion for the period of 2023–2050. Developing climate resilience will require seven times the current spending to transform adaptation, at a rate of $8.5 billion per year, with $6 billion per year coming from external sources or international climate funds and development partners.

Given the central role of the Green Climate Fund (GCF), the unprecedented volumes of funding it offers, the range of financial instruments it provides, and its blended funding strategy, countries are focusing on accessing GCF resources. In addition to the international access modality, the GCF has adopted the groundbreaking innovation of Direct Access. This path allows developing countries to access finance without having to go through the international intermediaries that dominate other sources of funds, making finance more accessible while also providing these entities with the opportunity and resources to strengthen internal systems and more effectively integrate climate change into their operations.

Bangladesh, uniquely positioned for GCF support, needs to ensure it has sustainable technical capacity in the entire fund access ecosystem to design and prepare funding proposals. To address this need, the Global Center on Adaptation is holding a training aimed at sustainably building the capacity of three key players in the fund access ecosystem (Access Entities, Executing Entities, and Adaptation Experts) to improve the robustness of the climate science basis in developing adaptation concept notes and funding proposals for the GCF.

Expected Outputs

• Develop an in-depth understanding of how to bridge climate science with climate finance, by mainstreaming scientific baseline into project components and interventions.
• Create local expertise, with sustainable capacity developed on advanced technical adaptation aspects through phases of training (Phase II and III in Year 2024)
• Development of GCF projects for policy implementation, such as the National Adaption Plan (NAP), Mujib Climate Prosperity Plan (MCPP), and Bangladesh Delta Plan (BDP2100).