Green Climate Fund creates debt repayment burden on Bangladesh: TIB

The role of the Green Climate Fund (GCF) over the past decade has been disappointing as it has created debt repayment burdens on climate-affected countries like Bangladesh, Transparency International Bangladesh (TIB) said. 

The situation emerged as it provided more loans against grants, TIB said on Tuesday in a research report titled 'Accessibility of vulnerable countries like Bangladesh to the Green Climate Fund: Good governance challenges and ways to overcome'.

TIB Executive Director Iftekharuzzaman made the remarks while addressing an event at TIB headquarters in Dhaka.

There is no accountability infrastructure in the fund, he said, adding that the UN organisation is violating its own policy and is discriminating.

Besides, there are various allegations of irregularities and corruption against them, the TIB Executive Director said. 

The majority of the money Bangladesh needs is supposed to come through the GSF. But climate-affected countries are not getting the benefit, he said. 

The organisation is rather giving more funding to international organisations, which is not acceptable at all, Iftekharuzzaman added. 

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