According to BSS, the World Bank (WB) has agreed to lend Bangladesh $2.25 billion USD for five development projects involving regional commerce and connectivity, disaster preparedness, and environmental management.
On Monday, the loan arrangement was inked at the World Bank headquarters in Washington. The deal was signed in the presence of Prime Minister Sheikh Hasina and World Bank President David Malpass.
The five development projects are – Resilient Infrastructure for Adaptation and Vulnerability Reduction(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).
The resilient infrastructure project for adaptation and risk reduction, costing $500 million, will be the first significant investment initiative to support Bangladesh Delta Plan-2100. It will aid in disaster preparedness for inland flooding.
The second project on environmental sustainability and transformation in Bangladesh, valued around $250 million, will assist Bangladesh in strengthening environmental management and encouraging private sector participation in green investment.
The first phase of the Eastern South Asia-Bangladesh transport and commercial connection project is worth US$ 753.45 million. It will aid Dhaka in increasing regional trade and connectivity.
