Local Government, Rural Development and Cooperatives Minister Abdul Moyeen Khan has expressed concern over the lack of significant progress in global environmental protection efforts, saying wealthy countries have yet to adequately fulfil their responsibilities for addressing the impacts of climate change.
“Although the ‘polluter pays’ principle is central to addressing the impacts of climate change, it remains largely unfulfilled as wealthy countries have failed to meet their responsibilities,” the minister said.
He made the remarks as the chief guest at a national dialogue titled “From Paris to Antalya: Reflections on Climate Finance for Nature,” organised by Change Initiative at a hotel in the capital on Thursday.
He said borrowing was not inherently problematic as long as the funds were used properly, adding that Bangladesh had maintained its loan repayment capacity despite borrowing over the years to finance development.
Citing Germany’s post-war reconstruction, he said borrowing could support long-term development if the funds were invested wisely and transparently.
Moyeen Khan attributed the country’s economic resilience partly to its informal economy, which he estimated accounted for 60 to 70% of the overall economy and supported millions of livelihoods.
The minister also highlighted the challenge of balancing infrastructure development with environmental protection, noting that people expected roads, industries and other facilities alongside sustainable planning.
He said the democratically elected government was open to recommendations from civil society representatives and experts to formulate policies that would serve the welfare of the people.