Corruption of over Tk 2110 crore in climate fund: TIB

Transparency International Bangladesh (TIB) has said that more than half of the national climate finance fund in Bangladesh has been lost to corruption. According to the organization's calculations, corruption occurred in 54 percent of the allocations of 891 projects approved from the Bangladesh Climate Change Trust Fund (BCCT) from 2010 to 2024. This amount is estimated to be about $ 248.4 million, or more than Tk 2,100 crore.

This information was presented at the release of a research report titled 'Challenges and Ways to Overcome Good Governance in Climate Finance in Bangladesh' at the Midas Center in Dhanmondi in the capital on Tuesday. The report said that the trend of approving projects through political considerations, collusion and nepotism is clear. However, as fund managers, BCCT officials have not taken any effective measures to prevent irregularities.

According to the TIB report, a total of $ 458.5 million in allocations have been approved from BCCT from 2010 to 2024. More than half of this allocation is corrupt. Bangladesh needs $12,500 million to address climate change every year. But from 2015 to 2023, the combined national and international funds allocated an average of only $86.2 million annually, which is only 0.7 percent of the requirement.

Allocation from the national fund has decreased by an average of 8.2 percent every year, while allocation from international funds has increased by 43.8 percent. Yet the amount of allocation is very limited compared to the requirement. Delays and failures in the implementation of national fund projects are regular occurrences. Out of 891 projects, 549 have had their duration extended—an average of 648 days for completion, which took 1,515 days, or a 133 percent increase in time. Some four-year projects have taken up to 14 years to complete. The same picture is also seen in international funds—21 out of 51 projects have had their duration extended by an average of 52 percent.

TIB Executive Director Dr. Iftekharuzzaman said, “Bangladesh needs $10 to $12 billion every year as climate compensation. But from 2003 to 2024, we have received only $1.2 billion—which is absolutely negligible. 54 percent of the national fund has been damaged due to corruption. This money has been looted by politically influential people. This situation has arisen due to lack of accountability, good governance and efficiency. We want this to change.”

Dr. Iftekharuzzaman added, “Sustainable development will become impossible if the participation of the real beneficiaries, transparency and accountability in climate finance are not ensured.”