Photo : Collected

DHAKA, March 31, 2026 (BSS) - The United Nations Development Programme (UNDP) and City Bank PLC signed a Memorandum of Understanding (MoU) yesterday to accelerate climate finance in Bangladesh by advancing the country’s emerging thematic bond market, with a focus on green investments. 

The signing ceremony took place at the City Bank head office.

The MoU was signed by Stefan Liller, Resident Representative, UNDP Bangladesh and Mashrur Arefin, CEO of City Bank PLC, marking a significant step toward mobilizing private sector investment for climate-resilient development, said a press release today.

Under this partnership, UNDP will provide technical assistance to support City Bank PLC in issuing its first green bond by a commercial bank in Bangladesh. 

The proposed thematic bond will finance eligible green projects, including climate adaptation & mitigation initiatives. This focus is particularly important given Bangladesh’s high vulnerability to climate change and the global gap in adaptation financing.

Stefan Liller, highlighted, “In Bangladesh, a country on the frontlines of climate change, unlocking new sources of climate finance is essential. This collaboration, including support towards the issuance of a green bond, is an important step in connecting sustainable finance with local opportunities and needs.”

Mashrur Arefin, noted, “City Bank is currently working on issuance of a green bond. Our partnership with UNDP brings the technical strength and global reach needed to unlock new financing pathways and accelerate sustainable growth”.

To ensure alignment with international standards, UNDP plans to facilitate targeted technical support, including guidance on green bond frameworks, impact measurement, reporting, and governance of proceeds. 

These elements are essential for enhancing transparency and credibility, thereby attracting both domestic and international investors.