With climate change posing significant threats to Bangladesh’s development, the B-CAP initiative seeks to mobilize substantial investments in both mitigation and adaptation. Supported by a $5.3 million investment, the IFC-Danida collaboration aims to catalyze $50 million in climate-smart private investments by 2027, with a primary focus on manufacturing and green finance.
The core objectives of B-CAP include accelerating climate-smart investments, boosting green finance, promoting sustainable practices, and ensuring gender inclusiveness. This project is in line with IFC’s strategic climate objectives, aiming to facilitate an inclusive transition to a low-carbon, resilient economy that prioritizes people, jobs, and sustained industrial growth in Bangladesh.
“By fostering climate-smart private investments in Bangladesh, we are addressing climate change while encouraging resilient and eco-friendly development,” said Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan, and Nepal. “Partnering with Danida allows us to leverage combined expertise and resources, ensuring our projects adhere to the highest environmental and social standards, supporting Bangladesh’s developmental journey.”
Building on the successful Partnership for Cleaner Textile (PaCT) program, which provided advisory support for the green transition in Bangladesh’s textile industry, B-CAP broadened this collaboration to encompass a wider scope of climate advisory services.
Christian Brix Møller, Denmark’s Ambassador to Bangladesh, commented, “Our collaboration with IFC is a significant step towards advancing global climate action goals. By investing in Bangladesh’s transition to a green economy, we reinforce our commitment to sustainable development and international cooperation.”
Through B-CAP, IFC and Danida aim to foster a sustainable and climate-resilient future for Bangladesh, harnessing private sector investments to drive impactful environmental and social change.
