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In climate-vulnerable countries like Bangladesh and the Philippines, the hope for just and accessible finance is far behind. Between 2016 and 2022, Bangladesh and the Philippines received an estimated USD 21.1 billion and USD 15.9 billion in international climate finance, respectively. But more than 90% of the flows arrived in the form of loans, not grants, increasing the financial burden on already debt-burdened countries with escalating climate losses. Frontline communities, therefore, bear the risks while international financiers reap most of the benefits.
The report examines whether current climate funding flows enable meaningful access for frontline communities, particularly women, low-income groups, and marginalized populations; and whether these funds are aligned with local needs and priorities. The study addresses these points by assessing the climate finance flows to Bangladesh and the Philippines, by examining key funding patterns, the inclusivity of projects, and the extent to which these investments respond to the needs and priorities of frontline communities. A comparison of three GCF projects in Bangladesh and the Philippines illustrates how the design of financing influences outcomes for justice.
The report is structured as follows:
Chapter 1 sets the context for climate finance and the significance of tracking it at the local level to ensure funds are aligned with the needs of the most vulnerable.
Chapter 2 provides an overview of the climate finance landscape in Bangladesh and the Philippines, including key funders, sectoral allocations, and patterns in funding mechanisms. This section also highlights the institutional roles and critical barriers to the flow of climate finance to frontline communities in both countries.
Chapter 3 presents three case studies of GCF projects implemented in both countries. This section assesses community-level responses to the project interventions with a focus on effectiveness, including intended and unintended impacts, as well as inclusivity and affordability.
Chapter 4 concludes the report by sharing recommendations to improve the effectiveness, equity, and inclusivity of climate finance based on insights from the financial mapping and community-level assessments.
Oxfam’s Fair Finance Asia (FFA) and Transboundary Rivers of South Asia (TROSA) Programs, together with Asia Disaster Preparedness Center (ADPC) as research partner, have launched a report exposing critical barriers that prevent climate finance from effectively reaching frontline communities in Bangladesh and the Philippines. The two countries are amongst the most climate-exposed nations in Asia and the largest recipients of global climate funding. This report was developed in collaboration with Fair Finance Bangladesh, Fair Finance Philippines, Oxfam in Bangladesh, Oxfam Pilipinas, and Rangpur Dinajpur Rural Services Bangladesh (RDRS).
Click here for the report.
