Achievement
Achievements
In COP28, LoGIC project achieved the Locally Led Adaptation Championship Award from the Global Center on Adaptation (GCA) in the category- ‘Innovation in ‘Devolving Finance’, which recognizes the initiatives of LoGIC’s scalable approach to empowering vulnerable communities in the face of climate change.
- LoGIC as an innovative climate financing model delivers finance to the most vulnerable people and LGIs with lower transaction costs & higher adaptation benefits. 70% of the project fund is directly invested to the beneficiaries.
- LoGIC’s locally led adaptation model has been cited in the National Adaptation Plan (NAP) and acknowledged in the Mujib Climate Prosperity Report 2030 as the best practice model.
- 1.97 million most vulnerable people (56% women) are directly benefitted through LoGIC grants and capacity-building support. LoGIC provided grants to households to create a climate-resilient pathway, and to LGIs to implement community-level Climate Change Adaptation schemes.
- LoGIC has developed a Climate Vulnerability Index to be used by the government for allocating resources to the LGIs for climate adaptation.
- LoGIC promotes market linkages and the financial inclusion of climate vulnerable households. 42,500 CRF beneficiaries (99% women) opened individual and group bank accounts. The women beneficiaries are leading their own group businesses, empowering them financially and socially.
- USD 12.26 million was disbursed to 42,500 selected beneficiaries as financial support (CRF). 100% of CRF beneficiaries are implementing Climate Adaptive Livelihood Options (CALO) and 80% of beneficiaries have gained positive economic benefits.
- USD 9.14 million was disbursed to 72 union parishad (FY 21-22) and 19 upazilas (FY 22-23) as PBCRG implemented 916 climate-resilient community-level schemes which benefitted 300,000 people (58% women). 68% of the adaptation schemes are co-financed from different sources.