Bangladesh climate Multi Donor Trust Fund
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The Bangladesh climate Multi Donor Trust Fund (MDTF) is a proposed institution to collect and disburse climate adaptation funding for Bangladesh, to be administered by the World Bank.
On February 15, 2009, the Bangladeshi government refused to accept a £60m climate funding offer from the United Kingdom if it was channeled through the World Bank.[1]
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[edit] Scope
According to Mohammed Shamsuddoha and Rezaul Karim Chowdhury, "The 'draft concept note' prepared by the government of Bangladesh on the MDTF suggested that the secretariat be based in the World Bank office in Dhaka. The Bank would co-chair the management committee, and administer, manage, supervise and monitor implementation of the MDTF's projects and programmes. For this job, the Bank will charge a fee of $8 million. All implementing agencies will have to follow the Bank's guidelines and policies on project implementation and procurement."[2]
According to a 2009 New Age editorial, "10-15 per cent of the $5 billion that the MDTF will amount to will possibly become a management fee for the bank (between $500–$750 million)."[3]
[edit] Support
The British Department for International Development (DFID) has been insisting that climate finance should be channeled through a Multi Donor Trust Fund managed by the World Bank; this position has been supported by the Danish government.[3][1]
At the 2009 Copenhagen climate conference, a Bangladeshi delegate told reporters that Bangladesh might let the World Bank manage the funds, if that was set as a condition by funders.[4] After the conference, Bangladeshi Prime Minister Sheikh Hasina stated that establishing a Multi Donor Trust Fund is part of her government's response to climate change.[5]
[edit] Criticism
According to the New Age, the Multi Donor Trust Fund has "more or less unanimous opposition among climate change researchers, environment ministry officials and NGOs and civil society members in Bangladesh alike."[3] Bangladeshi civil society organizations are strongly critical of the Multi Donor Trust Fund idea, generally preferring that funds be managed by a state-run board. Campaigners have expressed concern about the 10-15% management fees to be charged by World Bank consultants, and lack of democratic access to adaptation funding. Other campaigners are strongly critical of World Bank-funded projects, which they say "have often created ecological hazards and destroyed ecological goods and services."[2]
Bangladeshi opponents of a World Bank-managed MDTF include the Equity and Justice Working Group Bangladesh (EquityBD).[6]
British opponents include the Jubilee Debt Coalition and the World Development Movement. [7][8]
[edit] References
- ^ a b David Adam and John Vidal (15 February 2010). "Bangladesh rejects £60m of climate aid from UK". Guardian. http://www.guardian.co.uk/environment/2010/feb/15/bangladesh-world-bank-climate-finance.
- ^ a b Mohammed Shamsuddoha and Rezaul Karim Chowdhury (20 November 2009). "Unjustifiable Bank domination over climate funds in Bangladesh". http://www.brettonwoodsproject.org/art-565619.
- ^ a b c Mahtab Haider (March 13, 2009). "WB’s fingers in Bangladesh's climate fund pie". New Age. http://www.newagebd.com/2009/mar/13/edit.html.
- ^ "Bangladesh demands allocation of funds for population at risk". Daily Star. December 13, 2009. http://www.asiaone.com/News/Latest+News/Asia/Story/A1Story20091213-185611.html.
- ^ "Getting recognition as MVC major success of Bangladesh in COP 15, PM tells JS". Bangladesh Sangbad Sangstha. February 2, 2010. http://bssnews.net/newsDetails.php?cat=7&id=85485$date=2010-01-27&dateCurrent=2010-02-02.
- ^ Equity and Justice Working Group Bangladesh. "Country should establish its sovereign authority in Climate Fund management". http://equitybd.org/blog/?p=21.
- ^ "Bangladesh Climate Finance". Jubilee Debt Campaign. http://www.jubileedebtcampaign.org.uk/?lid=5356. Retrieved 2009-02-15.[dead link]
- ^ "Take action on climate debt in Bangladesh". World Development Movement. http://www.wdm.org.uk/bangladesh. Retrieved 2009-02-15.
