Staff Correspondent
The International Finance Corporation (IFC) and the Danish International Development Agency (DANIDA)
have entered into a transformative agreement to establish the Bangladesh Climate Advisory Partnership
(B-CAP), according to press release.
This initiative aims to boost climate-smart private investment in Bangladesh's key growth sectors,
contributing to carbon mitigation and the reduction of greenhouse gas emissions.
Climate change poses significant risks to Bangladesh's development, requiring substantial investments in
mitigation and adaptation. The IFC-DANIDA partnership, backed by $5.3 million, aims to catalyze $50
million in climate-smart private investments by 2027, with a focus on manufacturing and green finance.
B-CAP's core pillars include accelerating climate-smart investments, enhancing green finance, promoting
sustainable practices, and gender inclusiveness.
Aligned with IFC's strategic climate objectives, this project aims to accelerate an inclusive transition to
low-carbon, resilient growth focused on people, jobs, and sustained industrial progress in Bangladesh.
“By catalyzing climate-smart private investments in Bangladesh, we’re tackling climate change while
fostering resilient, eco-friendly development,” Martin Holtmann, IFC Country Manager for Bangladesh,
Bhutan and Nepal. “Teaming up with DANIDA allows us to pool expertise and resources, ensuring our
projects uphold the highest environmental and social standards, supporting Bangladesh's development
journey."
Building on the successful Partnership for Cleaner Textile (PaCT) program, which provided advisory
support for a green transition in Bangladesh’s textile industry, B-CAP expands this collaboration to
broader climate advisory.
Danish Ambassador Christian Brix Møller said, “This collaboration with IFC is a significant step towards
advancing our global climate action goals. By investing in Bangladesh's transition to a green economy,
we are are reinforcing our commitment to sustainable development and international cooperation.
