$2 billion World Bank fund to fight Bangladesh’s climate change impact
October 19th, 2016 at 11:51 am
$2 billion World Bank fund to fight Bangladesh’s climate change impact

Dhaka – The World Bank has announced a 2-billion dollar credit for Bangladesh to fight the impacts of climate change in the South Asian country battered frequently by cyclones, storm and floods.

Jim Yong Kim, President of the global lending agency, made the announcement Tuesday wrapping up his three-day visit to Bangladesh, one of the countries vulnerable to climate change in the world.

Bangladesh, a delta located on the foothills of the Himalaya on the one side and bank of the Bay of Bengal on the other, experienced natural disasters like cyclone, storms and floods on regular intervals in the past years.

The World Bank

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The country has chalked out a national strategy to combat the impact of the global warming.

“Bangladesh is among the countries most at risk from the impacts of climate change. We must confront climate change now as it hits the poor the hardest,” Kim told reporters at a press conference in Dhaka.

The promised-fund will be used in the next three years to help Bangladesh become more resilience to climate change fallouts.

The lending agency chief appreciates Bangladesh’s adaptation and disaster-coping mechanisms to reduce the impacts of recent natural disasters.

“The dramatic decline in deaths demonstrates that Bangladesh’s adaptation measures do work,” he added.

Kim arrived in Dhaka Sunday to recognize Bangladesh’s success in poverty reduction as more than 15 million people have moved out of poverty in the South Asian country since 1992.

He visited a World Bank funded project in southern Barisal district to see the progress Bangladesh has made in transitioning successfully to a lower-middle income country.

On Monday, he announced a special 1-billion dollar fund to fight malnutrition as millions of preschool children suffer stunted growth and are underweight in Bangladesh.

The lending agency chief also urged Bangladesh to ensure governance, and policy reforms to create an atmosphere conducive for doing business better.