Concerned citizens and climate activists in Chattogram came together to oppose the Asian Development Bank’s (ADB) support for fossil fuel and LNG projects. Ahead of ADB’s 58th Annual Meeting, ISDE Bangladesh, CLEAN (Coastal Livelihood and Environmental Action Network) and BWGED (Bangladesh Working Group on Ecology and Development) organized a public awareness campaign to draw attention to these risky investments.

Imbalanced Funding: Fossil Fuels Vs. Renewables

SM Nazer Hossain, Vice President of CAB and Executive Director of ISDE Bangladesh, revealed that ADB has poured about USD 4.88 billion into projects generating 2,884.8 MW of power. Of this, 82.9 percent went to fossil fuel-based projects, only 2.55 percent to solar energy, and none to wind power. He further noted that the investment per megawatt stands at USD 2.04 million for fossil fuel projects, compared with just USD 0.51 million for solar installations.

Stranded Asset Risks in Khulna

Speakers highlighted that ADB provided an extra USD 104.11 million to upgrade Khulna’s 150 MW gas-turbine plant into a 225 MW combined-cycle facility. Yet over the past 11 years, the government has spent BDT 182.4 billion on this project without any guaranteed gas supply. Likewise, an 800 MW LNG-fired power plant in Rupsha, Khulna, was built without securing fuel contracts, raising fears these facilities will become stranded assets—forcing taxpayers to cover capacity charges without receiving power.

Environmental and Economic Warnings

“At a time when the world is shifting towards renewables, ADB’s continued investments in fossil fuels deepen the climate crisis and threaten countries like Bangladesh,” warned one climate activist. Osman Jahangir, Coordinator of ODHIKER and member of the Forum for Ecology and Development, stressed that sustainable development depends on renewable energy. He added that reliance on fossil fuels not only results in economic losses but also causes long-term environmental and social harm.

Ongoing Protests for Climate Justice

Youth climate activist Sidratul Munthaha announced that similar protests will continue across Bangladesh and other nations in the lead-up to ADB’s annual meeting. These actions aim to pressure ADB and other development institutions to embrace climate justice and prioritize sustainable, renewable energy in their investment policies.