Dhaka, March 31:
The United Nations Development Programme and City Bank PLC have partnered to accelerate climate finance in Bangladesh through the development of a green bond market.
The two sides signed a memorandum of understanding (MoU) on March 30 at City Bank’s head office. The agreement was inked by Stefan Liller and Mashrur Arefin.
Under the partnership, UNDP will provide technical assistance to help City Bank issue the country’s first green bond by a commercial bank. The bond will finance environmentally sustainable projects, including climate adaptation and mitigation initiatives.
Officials said the initiative aims to mobilize private sector investment for climate-resilient development, a critical need for Bangladesh as one of the countries most vulnerable to climate change.
Stefan Liller emphasized that unlocking new climate finance sources is vital for Bangladesh, while Mashrur Arefin noted that the collaboration would strengthen the bank’s efforts to expand sustainable financing.
UNDP will also support the development of green bond frameworks, impact measurement, and reporting standards to ensure transparency and attract both local and international investors.
The move is expected to open new avenues for sustainable investment and strengthen Bangladesh’s transition toward a greener economy.
Source: UNDP, Bangladesh
