The proposed national budget for the fiscal year 2024-25 allocates Tk42,206.89 crore as the climate budget for 25 climate-related ministries and divisions.
These ministries and divisions oversee the environment, forest, climate change, agriculture, disaster management, food, fisheries, and livestock.
The proposed allocation constitutes 10.1% of the total budget of Tk4,18,160.64 crore for these ministries and divisions.
The allocation is 1.68% higher than the Tk41,508.64 crore allocated in the revised budget for FY 2023-24. However, in the previous budget proposal for FY 2023-24, Tk37,052 crore was proposed for climate-related allocations.
This was the seventh climate budget.
Like the previous year, the latest budget proposal highlights the financing requirements for 34 climate-relevant projects included in Bangladesh Delta Plan 2100.
The ministries and divisions spend the climate budget in six thematic areas of the Climate Change Strategy and Action Plan.
The proposed climate budget allocates the highest Tk17,492.44 crore for food security, social protection, and health. However, the allocation is slightly decreased from Tk19,425.29 crore, the revised budget of 2023-24 FY.
According to the latest climate budget, Tk12,730.97 crore is proposed for the thematic area infrastructure, while mitigation and low carbon development will receive Tk5,765.21 crore, capacity building and institutional strengthening Tk2,496.27 crore, comprehensive disaster management Tk2,680.17 crore, and research and knowledge management Tk1,041.55 crore.
While presenting the national budget for the fiscal year 2024-25, Finance Minister Abul Hassan Mahmood Ali mentioned that Bangladesh is one of the most vulnerable countries to the impact of climate change.
“Considering the depth and extent of these impacts, we are taking all the necessary steps to increase the capacity of adaptation to climate change and reduce the impact,” he said.
The minister proposed a special allocation of Tk100 crore in this year’s budget to speed up activities in this regard.
