Dhaka, Paris likely to sign 1b euro climate pact
Dhaka and Paris are expected to sign Climate Adaptation Pact wroth 1 billion euro ($1.1 billion) during a visit by Prime Minister Sheikh Hasina to France sometime in the middle of this year.
Under the pact, which is being negotiated now between the two countries, France will provide the money to Bangladesh mostly in concessionary loan and some grants for projects that help Bangladesh adapt to climate change.
Stephane Crouzat, Ambassador for Climate Change, Negotiations, Renewable Energy and Climate Risk Prevention of France, led a delegation for a week since last Saturday and held meetings with the ministers and officials for the ministries of environment and climate change, disaster management, local government, finance, water and foreign affairs, as well as private sector and civil society groups.
"There are possibilities for investing in infrastructures. It could be building polders, improve water resources, sanitation and even preserving the Sundarbans. The important focus will be given on the locally-led solutions," Crouzat told The Daily Star on Thursday.
He said the Climate Adaptation Pact (CAP) will be signed when Hasina visits France soon.
French President Emmanuel Macron, who visited Bangladesh in September last year, also sent a letter to Hasina congratulating her on her victory in the January 7 parliamentary election. He also extended invitation to visit France, Crouzat said.
He said Dhaka and Paris are now exchanging the ideas of possible projects under the multiyear deal.
Bangladesh is on the frontline in terms of climate vulnerability and is also a very active player in international climate negotiation, especially on adaptation. It also has set examples for other countries in terms of adaptation.
Besides, Bangladesh is a very important country for France, which gives much importance on climate adaptation, Stephane Crouzat said.
He said Bangladesh has been reiterating that there is huge shortage of adaptation fund, and the French president made commitment to supporting Bangladesh towards this end. Bangladesh is the first country with which a dedicated pact on climate adaption will be signed.
Asked about the Hasina's visit to France, a foreign ministry official said Dhaka and Paris are working on it.
During Macron's visit last year, both countries expressed interest in expanding bilateral trade and investment in resilient infrastructural development in the railway sector.
Bangladesh committed to buy 10 planes from European multinational Airbus. The two countries also signed a letter of intent for space partnership between Airbus and Bangladesh Satellite Company Ltd, and buying the Bangabandhu-2 Earth Observation Satellite System.
In October last year, Bangladesh and France also arranged an investment summit and a French business delegation is expected to visit Bangladesh in April.
Current bilateral trade between the two countries stands at €4.9 billion, but this can be taken to a much higher level, officials said.
The second political dialogue with France will also be held this year before Hasina's visit, a foreign ministry official said.
"Altogether, we want the outcome of the Prime Minister's visit to be very concrete," the official added.
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