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NEWS / CDKN workshop: How can the private sector in Bangladesh develop project concepts for the GCF?
Category: Financial Services, Latest News

Image: Workshop participants.

By Caroline Fouvet

Moving from project ideas to bankable GCF project concepts in Bangladesh

As climate change impacts already forced six million people away from their home in Bangladesh, the country is doubtlessly grappling with the immediate fallout of extreme weather events. Strengthening Bangladesh’s resilience and helping the population adapt to the unavoidable consequences of climate change requires major investments. The private sector remains a virtually untapped source of climate finance in Bangladesh. A country-based assessment in Bangladesh especially highlighted the need for increased role from the private sector in climate finance and the integration of private sector into national planning processes and strategies.

Currently, Acclimatise, ICCCAD and IIED are working on a CDKN-funded project that seeks to identify and increase the readiness of Bangladeshi private to engage with the Green Climate Fund (GCF). While a first workshop focused on raising awareness and making a business case for private sector engagement, the second workshop last August supported and assessed the capacities of selected private sector entities within Bangladesh to access the GCF as either national implementing entities (NIEs) or executing entities (EEs). In this third workshop organised last Sunday 15th January, where our own Virginie Fayolle and Serena Odianose were presenting, selected private companies developed their capacity to develop bankable GCF project concepts, through successful GCF project examples and practical hints for proposal writing. Additional one-to-one clinics were organised over the next two days to provide specific and targeted suggestions to reframe the project concepts or project ideas in a way that fits the GCF requirements.

To test the participants’ knowledge of GCF procedures and requirements, a quiz also took place. It was for them the occasion to test their knowledge about the technicalities and funding requirements of the largest public fund dedicated to climate finance. In addition, a detailed toolkit to develop GCF project proposals was also distributed and is aimed to support the private sector participants in their application process.  You can find this toolkit in the Acclimatise resources library by clicking here.

The workshop was an important stepping stone for developing the capacity of Bangladeshi private sector in developing bankable GCF projects.