By promoting these collaborative efforts, the Union government aims to minimize waste disposal, recover valuable materials, and establish recycling units in partnership with recyclers, refurbishers, and start-ups.
The MoU was signed on Monday by Chowdhury Liakat Ali, Director of the Sustainable Finance Department at Bangladesh Bank, and Stefan Liller, UNDP Bangladesh's Resident Representative, a UNDP press release said.
Transitioning to sustainable systems requires substantial investment and coordinated effort across sectors. Additionally, achieving these goals hinges on overcoming resistance from vested interests, such as industrial agriculture and fossil fuel industries.
The negotiations did not yield the results that would have helped Planet Earth set a groundbreaking target to reduce the amount of plastic being produced.
The cyclone, which struck in May 2024, caused extensive damage, including the prolonged shutdown of the Summit LNG terminal, one of Bangladesh’s two floating, storage, and regasification units (FSRUs).
The push for ICJ involvement was led by Pacific nations like Vanuatu, whose very existence is threatened by rising sea levels. Vanuatu’s ambassador to the UN emphasized the moral and existential urgency of the hearings.
The decision to halt salary payments has drawn concern from civil society groups and international observers, who warn that continued economic contraction could fuel social unrest or increased migration out of the country.
Finalized in mid-2025 after extensive talks between Pakistan’s SIFC and US agencies, the deal supports Washington’s strategy to diversify critical mineral supply chains and reduce reliance on China.