Inclusive Green Finance in Asia Pacific

State of implementation/results

• The project completed the Kick-Off Meeting (KOM) from February 4th to 7th 2025.
• The project held a meeting with the Bank for Agriculture and Agricultural Cooperatives (BAAC) in Thailand to establish a draft protocol, to identify potential challenges and set a roadmap for pilot implementation, capacity building, and regional expansion. An online meeting on 13 June 2025 finalised project objectives, implementation protocols, and 2025 work plans, with next steps including stakeholder mapping, policy engagement strategies, and preparation for inception Conduct inception workshops and bilateral meetings in Bhutan, Bangladesh, Cambodia, Fiji, and Lao PDR between August–October 2025.
• Five financial service providers (FSPs), Padakhep and TMSS (Bangladesh) and BNBL (Bhutan), EMI (Laos) and AMK (Cambodia) were selected to start project activities. Tailored Technical Assistance plans were developed for all five FSPs, covering institutional capacity, climate finance readiness, product development, responsible finance, and Gender, Equity, Disability and Inclusion, with FSPs responsible for implementation and internal system transformation.
• The project team is developing selection criteria and Terms of Reference for local organisations to host Multi-Stakeholder Action Platforms (MALs) in six target countries. Pilot MALs will launch with key stakeholder mapping, identification, and engagement Q3 of 2025 and in Q1 of 2026.
• The Gender Equality and Social Inclusion (GESI) team has continued to build its networks in preparing for initial field visits in Q4 of 2025 (Bangladesh in October, Lao PDR in November, Bhutan in November–December). Local contacts are being identified for key informant interviews, and groundwork is underway to scope future case studies of women-led and inclusive climate finance models and assess site potential for gender-transformative approaches. Initial fieldwork will also entail a community-level workshop with selected FSP target communities to ensure the project gender action plan directly reflects community concerns and opportunities.
• The ICCAP Project is being implemented in six countries: Bangladesh, Bhutan, Cambodia, Fiji, Lao PDR, and Nepal. In Bangladesh situation remained uncertain amid ongoing political tensions and preparations for the 12 February 2026 upcoming national elections. In Nepal Youth-led Gen Z protests in September 2025 raised concerns about governance and transparency, leading to short-term political tensions and public demonstrations. The engagement in Nepal continues to secure a letter of intent. Thailand–Cambodia tensions have affected ICCAP implementation in border areas of Cambodia where the most climate-vulnerable communities and socially marginalised are located.
• The project completed Inception Workshops in five countries between Aug to Dec 2025, and reaching 1061 institutions. Bangladesh engaged 18 institutions, led by the Economic Relations Division (ERD) with participation from Bangladesh Bank, FAO, GIZ and private financial institutions. Bhutan engaged 30 institutions, including the Ministry of Finance, Ministry of Agriculture and Livestock and the Royal Monetary Authority. Cambodia engaged 32 institutions, including the Ministry of Economy and Finance (MEF), National Bank of Cambodia, Securities and Exchange Regulator of Cambodia and private sector stakeholders. Fiji involved 8 institutions, including the Ministry of Environment and Climate Change, Ministry of Finance, UNDP, and the Reserve Bank of Fiji. Lao PDR included 18 institutions from the Ministry of Agriculture and Environment and the Bank of Lao PDR.
• ICCAP Project Advisors conducted field visits in Bangladesh Thengamara Mohila Sabuj Sangha (TMSS) and Padakhep, Lao PDR (Ekphathana Deposit-Taking Microfinance Institution (EMI) to follow up on Technical Assistance (TA) plan with first-batch Financial Service Providers (FSPs), conduct gap analysis.
• The Regional Adaptation Investment Facility (RAIF) Terms of Reference (ToR) and tendering process were prepared to ensure compliance with Swedish procurement rules and partner country regulations. The tender was published 19 Nov 2025, with a submission deadline of 15 Jan 2026.
• Procurement for Multi-stakeholder Action Lab (MAL) host organisations was completed in Bangladesh (Shushilan), Bhutan (Bhutan Ecological Society), Cambodia (Impact Hub Phnom Penh), and Lao PDR (Zero Waste Laos), with Fiji planned for Q1 2026.
• The project finalised Gender Equality and Social Inclusion (GESI) guidance and gender-responsive Monitoring, Reporting, Evaluation and Learning (MREL) tools and completed training on their use. The GESI team also joined the Gender and Climate Finance Collective (GCFC) convened by the UN on behalf of ICCAP.

Latest Update:
04/2026

Further links

• Post: Executives Meeting APRACA with Bank for Agriculture and Agricultural Cooperatives BAAC (TH)
• Podcast: Beyond the billions: the unequal path of climate finance - hosted by Charmaine Caparas (ICCAP KMC lead), featuring ICCAP resource person, Dr. Mustafa Kamal Mujeri, Executive Director of the Institute for Inclusive Finance and Development in Bangladesh.