The Green Climate Fund has signed a funding agreement with Kreditanstalt für Wiederaufbau (KfW) to help mainstream climate-resilient infrastructure in Bangladesh.

The signing of the Funded Activity Agreement (FAA) allows GCF to begin transferring USD 40 million in grant assistance to this USD 80 million project.

KfW, the German development bank, will use the financing to bolster climate resilience in Bangladesh – including building cyclone shelters in rural areas and developing urban infrastructure.

GCF Executive Director Howard Bamsey signed the agreement with KfW’s Roland Siller, Member of the Management Committee, and Claudia Arce, Director South Asia, during the international climate change conference in Bonn, Germany.