Ensure eco-friendly development: analysts

The government should take up an effective plan to ensure eco-friendly development and reshape current growth to one that is sustainable, analysts said today.

The authorities should identify why some Bangladesh Bank-financed plans are not working effectively and destroying the environment constantly, they said.

The analysts believe green finance incentive systems will work best if relevant ministries and state-owned companies collaborate.

The comments came at a virtual discussion on "Incentives for Green Finance and Investment" organised by the Policy Research Institute of Bangladesh (PRI) in collaboration with World Bank Group.

The disbursement of Bangladesh Bank's climate funds was not done correctly as people still do not know of the advantages of green financing, said Ahsan H Mansur, executive director of the PRI and chairman of Brac Bank.

The financial institutions face capacity complexities, so the expertise of officials concerned should be developed to enable technical support for all, he added.

He also said the government has to engage the cottage, micro, small and medium enterprises for their participation in achieving inclusive green growth.

Dr Mashiur Rahman, economic affairs adviser to the prime minister, as chief guest underscored the necessity of coordination among all ministries to ensure sustainable green development.

Iqbal Abdullah Harun, additional secretary to the environment, forest and climate change ministry, was present as the special guest with PRI Vice Chairman Sadiq Ahmed as moderator, Monika Kumar, an environmental specialist of World Bank, presenting a keynote paper, and Zaidi Sattar, chairman of the PRI, giving the opening remarks.