Special allocation in the Bangladesh National Budget to deal with climate impact

On June 06, 2024, the Finance Minister of Bangladesh, Abul Hasan Mahmud Ali, has proposed the Bangladesh National FY-2024-25 Budget before the Parliament Members in the National Parliament of Bangladesh.

The Budget proposal suggests allocating more funds to the Bangladesh National Budget 2024-25 to enhance the country’s capacity to address the effects of climate change.

The finance minister said that Bangladesh Climate Change Strategy and Action Plan (BCCSAP), Bangladesh Climate Fiscal Framework, Mujib Climate Prosperity Plan, Bangladesh Delta Plan, etc., have been formulated to deal with the effects of climate change.

Bangladesh Climate and Development Platform was recently established to coordinate projects addressing the effects of climate change.

Apart from this, the necessary financing strategy i.e. Disaster Risk Finance Strategy is being formulated to effectively deal with the disaster risk.

Considering the depth and extent of the impact of climate change, he said, “I am proposing a special allocation of 100 crore rupees in this year’s budget in order to increase the capacity of adaptation to climate change and to speed up the activities related to reducing the impact.”

Various projects are being implemented to efficiently and sustainably manage water resources. These projects include flood control, prevention of river erosion, river dredging, development of irrigation management, elimination of waterlogging, and land restoration.

Furthermore, efforts to conserve and restore different rivers and water bodies, such as the Buriganga River and the Turag River, have been enhanced.