ADB now prioritises climate change financing, Covid support to Bangladesh

The Asian Development Bank (ADB) must now prioritise climate change, while continuing to support economic recovery and the Covid-19 vaccination program in Bangladesh, says a report released by ADB's Independent Evaluation Department (IED).

The review recommends that climate change and environment should be the leading strategic priorities in the forthcoming 5-year country partnership strategy for Bangladesh, UNB report.

"Investment over the short- to medium-term will need to pay attention to recovery from the pandemic and aim to strengthen national health care services and social protection systems to build Bangladesh's resilience to shocks," IED director general Marvin Taylor-Dormond said.

ADB's programme in Bangladesh amounted to nearly $18 billion over the evaluation period, 2011-2020, with two-thirds invested in energy, transport, and water infrastructure.

On the environmental front, ADB did not take a proactive, holistic, or multisector approach to helping Bangladesh tackle climate change, the report says.

It adds, “More attention must now be paid to the energy sector's de-carbonisation.”