Metropolis Report-
A $2.25 billion loan from the World Bank (WB) has been approved for Bangladesh’s five development programs in the areas of regional connectivity and trade, disaster preparedness, and environmental management.
Bangladesh and the international bank inked a loan agreement yesterday (Washington time) at the WB headquarters. The handover of the agreement was observed by Prime Minister Sheikh Hasina and WB President David Malpass.
Resilient Infrastructure Building Project (RIVER), Bangladesh Environmental Sustainability and Transformation (BEST), Accelerating Transport and Trade Connectivity in Eastern South Asia (ACCESS) – Bangladesh Phase-1, First Bangladesh Green and Climate Resilient Development (GCRD), and Sustainable Microenterprise and Resilient Transformation (SMART) are the five projects.
The first significant investment program to support Bangladesh Delta Plan-2100 will be the resilient infrastructure scheme, which will increase readiness for inland flooding disasters and receive $500 million for adaptation and risk reduction.
The second initiative on environmental sustainability and transformation in Bangladesh, estimated to cost $250 million, will aid Bangladesh in improving environmental management and encouraging private sector involvement in green investment.
With $753.45 million, the third one will assist Dhaka in enhancing regional connectivity and trade by accelerating transport and trade connectivity in Eastern South Asia-Bangladesh phase 1.
The transition of the nation to green and climate-resilient development will be aided by the fourth project on the first green and resilient, which will get $500 million.
The $250 million fifth and final program on sustainable micro-enterprise and resilience transformation will assist in transforming the micro-enterprise sector into a more vibrant, resource-efficient, low-polluting, and resilient growth sector.
