Climate change a boon: IFC VP
Monday, 2 November 2009
FE Report
Climate change could be an opportunity for public private partnership in Bangladesh although the country is one of the worst victims of global warming, said a senior official of International Finance Corporation business advisory services.
Rachel Kyte, Vice President of the World Bank Group IFC, said the public sector can work on research to find innovative solutions to the climate change and the private sector could use those as models to ensure economic growth.
"There are scopes to replicate domestic and international research findings as business models in the country's agro, land and energy efficiency areas," she told selected number of journalists in an interview at IFC office here Sunday.
Ms Kyte, who played a key role in shaping the IFC's approach to climate
change, said the private sector needs to understand the opportunity offered by the climate change in the long run and devise solutions to the climate vulnerable areas.
"What climate change means to Bangladesh is important. Though it is worrying about losing land, crops and facing frequent calamities like flood, it is also an opportunity for the private sector to invest on food safety, salt resistant crops and removing salinity to cope up with the situation," she added.
Ms Kyte particularly mentioned agro business, irrigation and renewable energy and said in the public and private sector industries there are enormous scope to improve the level of efficiency through replicating innovative ideas and technologies.
The World Bank official arrived here on a two-day visit on Sunday. During her visit, she met with the Finance Minister and business leaders.
Admitting that Bangladesh has no commitment to reduce green house gas as it is not a polluter, she said it has become apparent to understand the changes coming to the supply chains due to climate change.
She said IFC has plans to work with the public sector on reforms in the areas of environment and livelihood to identify more decent work and employment for people.
"We are also looking at finding linkage between export processing zones and big medium and small medium enterprises so that Brand Bangladesh can be achieved," she added.
Climate change could be an opportunity for public private partnership in Bangladesh although the country is one of the worst victims of global warming, said a senior official of International Finance Corporation business advisory services.
Rachel Kyte, Vice President of the World Bank Group IFC, said the public sector can work on research to find innovative solutions to the climate change and the private sector could use those as models to ensure economic growth.
"There are scopes to replicate domestic and international research findings as business models in the country's agro, land and energy efficiency areas," she told selected number of journalists in an interview at IFC office here Sunday.
Ms Kyte, who played a key role in shaping the IFC's approach to climate
change, said the private sector needs to understand the opportunity offered by the climate change in the long run and devise solutions to the climate vulnerable areas.
"What climate change means to Bangladesh is important. Though it is worrying about losing land, crops and facing frequent calamities like flood, it is also an opportunity for the private sector to invest on food safety, salt resistant crops and removing salinity to cope up with the situation," she added.
Ms Kyte particularly mentioned agro business, irrigation and renewable energy and said in the public and private sector industries there are enormous scope to improve the level of efficiency through replicating innovative ideas and technologies.
The World Bank official arrived here on a two-day visit on Sunday. During her visit, she met with the Finance Minister and business leaders.
Admitting that Bangladesh has no commitment to reduce green house gas as it is not a polluter, she said it has become apparent to understand the changes coming to the supply chains due to climate change.
She said IFC has plans to work with the public sector on reforms in the areas of environment and livelihood to identify more decent work and employment for people.
"We are also looking at finding linkage between export processing zones and big medium and small medium enterprises so that Brand Bangladesh can be achieved," she added.