City Bank PLC and the United Nations Development Programme (UNDP) have signed a memorandum of understanding aimed at accelerating climate finance in Bangladesh. The agreement, signed at City Bank’s headquarters in Dhaka by Managing Director and CEO Mashrur Arefin and UNDP Bangladesh Resident Representative Stefan Liller, focuses on advancing the country’s emerging green and thematic bond market.

Under the partnership, UNDP will provide technical assistance to City Bank for issuing green bonds. City Bank stated that it is preparing to issue its first green bond, viewing the collaboration as a step toward expanding sustainable finance and strengthening Bangladesh’s green bond ecosystem. UNDP emphasized that unlocking new sources of climate finance is vital for the country’s sustainable development.

The partnership is expected to set standards for future thematic bond issuances and encourage greater private sector participation in sustainable finance. City Bank reaffirmed its commitment to advancing environmental, social, and governance practices and supporting Bangladesh’s climate priorities through a more sustainable financial ecosystem.