Dhaka, March 3 -- The United Nations Development Programme (UNDP) is collaborating with the Bangladesh Bank (BB) to develop a Climate Damage Function (CDF) aiming at strengthening climate-sensitive financial reporting and support banks and financial institutions in protecting assets and enhancing resilience in areas affected by natural calamities.
The CDF will facilitate the design of innovative blended finance models, increasing the financial flow to the most vulnerable communities.
With funding from the Government of Sweden and the Foreign, Commonwealth & Development Office (FCDO), UNDP is working closely with the Government of Bangladesh, regulators, and financial institutions to bridge the financing gap for climate action.
Strengthen...