54% of climate funds lost to corruption, Tk 2,100cr wasted: TIB

Around 54% of Bangladesh’s climate finance allocations between 2010 and 2024 were affected by corruption, causing an estimated loss of $248.4 million (around Tk 2,110 crore), according to Transparency International Bangladesh (TIB).

The findings were revealed Tuesday (Nov 4) at a TIB report titled “Governance Challenges and the Way Forward in Climate Finance in Bangladesh” released Tuesday (Nov 4) at the MIDAS Center in Dhaka.

The report shows that out of 891 climate projects, 549 (61.6%) had their duration extended — from an average of 648 days to 1,515 days — with some delayed up to 14 years. Among 51 internationally funded projects, 21 (41.2%) also faced extensions.

TIB said the Bangladesh Climate Change Trust Fund (BCCTF) approved $458.5 million in allocations, but political influence and fund mismanagement led to large-scale irregularities.

TIB Executive Director Dr. Iftekharuzzaman said Bangladesh requires $10–12 billion annually in climate compensation but received only $1.2 billion between 2003 and 2024. “Weak accountability and political interference are the root causes of this 54% corruption in national climate funds,” he noted.

The report added that allocations from national funds are declining, while international funding is rising but remains far below the country’s needs. TIB recommended stronger governance and accountability to curb corruption and speed up project implementation.