The Transparency International Bangladesh (TIB) has found information about embezzlement of Tk 21.10 billion in 891 projects undertaken by the Bangladesh Climate Change Trust (BCCT) which was formed to tackle the damage due to climate change with its own fund.
The agency said more than 54 per cent of the project money has been embezzled by means of corruption.
The TIB came up with the information at a press conference held at the TIB office in the capital’s Dhanmondi yesterday, Tuesday.
The results of the research under the title of “Challenges of good governing in climate finance in Bangladesh” were revealed in the press conference. The research analysed data of 891 projects.
The research report states that in project approvals, bribes and illegal transactions amounted to Tk 17.5 billion, irregularities in contractor appointments cost Tk 60 billion, and Tk 128 billion was embezzled during the implementation phase. During the supervision stage, bribe transactions worth Tk 5.4 billion were also recorded.
According to the data obtained from the research, from 2010 to 2024, a total of 891 projects under BCIC were approved with a combined allocation of Tk 389.6 billion. Of this, nearly Tk 211.1 billion was wasted or embezzled through irregularities and corruption. This amounts to 54.18 per cent of the total funds.
TIB research indicates that the main areas of corruption in BCIC projects are bribery and illegal transactions during project approval, irregularities in contractor selection, and embezzlement during implementation.
More than half of the projects approved between 2019 and 2023 were related to the installation of solar streetlights, where TI estimates that over Tk 17 billion was embezzled through overpricing.
Time to reorganise BCCT
At the press conference, TIB executive director Iftekharuzzaman said the type and scale of corruption in the climate fund indicates that it has become a distinct area of political collusion. Those involved include board members, influential political circles, and some implementing officials.
Iftekharuzzaman added that more than half of the government funds allocated since 2010 have been embezzled. For a country exposed to climate change risks, this is extremely embarrassing. He said it is now time to professionally reorganise BCCIC, free from government and political influence.