Govt urged not to take soft loans on climate impacts

Transparency International Bangladesh yesterday urged the government not to take soft loans to tackle impacts of climate change.

TIB made the demand in a statement following news reports on Sunday's speech by Finance Minister AMA Muhith when he said that the government had no problems in taking soft loans from any international organisation to tackle climate change impacts.

It also demanded that the government raise its voice in the upcoming climate change conference in Paris for new and additional grants.

Dr Iftekharuzzaman, executive director of TIB, said if Bangladesh accepts soft loans then its position when demanding, at the Paris summit, a legally binding treaty for compensating victim countries of climate change under "polluters pay principle" with new and additional grants, would be vulnerable.

Using Green Climate Fund (GCF) as a profitable investment is not ethical, said Dr Iftekharuzzaman, adding that such a speech by the finance minister would weaken the moral stand of vulnerable countries in demanding compensation for climate change impacts from developed countries.

In the statement, TIB said it was a matter of great concern that international organisations have been technically encouraging vulnerable countries, and in some cases compelling them, to take loans from the GCF.