Gap study with Bangladesh Bank - Analysing the regulatory framework of Bangladesh for issuing Green Bonds and the EU Global Green Bond Initiative (GGBI)

This assignment was carried out under the FWC SEA 2023 – LOT 8, as a specific contract titled “Gap study with Bangladesh Bank – Analysing the regulatory framework of Bangladesh for issuing Green Bonds and the EU Global Green Bond Initiative (GGBI)”. The global objective was to build a resilient and sustainable financial ecosystem in Bangladesh by identifying legal and regulatory gaps, promoting green bond financing, and ensuring ESG practices align with global standards, ultimately steering the country towards Net Zero. The specific objective was to support Bangladesh Bank in building capacity, developing frameworks, identifying gaps, simplifying the green bond issuance procedure and implementing best practices for green bond issuance and management, thereby fostering the green bond financing market in Bangladesh.

Gap analysis of the regulatory framework for green bonds vs. EU GGBI, ICMA GBP and CBI standards

2-day in-person training workshop for Bangladesh Bank officials (green bond principles, case studies, benchmarking across 7 countries)

Stakeholder interviews: 6 commercial banks, DSE, BSEC, EU Delegation and development partners

Presentation at the EU GGBI Round Table in Dhaka (mid-April 2025)

Given the limited budget and timeframe, the assignment focused on a targeted scope agreed with the client. The key activities delivered were:

One-week field mission in Dhaka (5 working days per expert): training, stakeholder interviews and gap analysis fieldwork

Expert guidance and gap analysis of the regulatory framework vs. EU GGBI, ICMA and CBI standards, covering 7 dimensions (use of proceeds, project evaluation, proceeds management, reporting, external review, regulatory framework, market capacity)

Benchmarking study covering 7 comparable countries (India, Indonesia, Vietnam, Philippines, Pakistan, South Korea, Fiji) with 6 flagship green bond case studies.