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WB agrees $2.25 billion loan for Bangladesh
May 2nd, 2023 at 6:22 pm
WB agrees $2.25 billion loan for Bangladesh

by Special Correspondent,

Dhaka – The World Bank has agreed to provide a financial support worth about $2.25 billion as loan to support five development projects in the South Asian country.

The fund will be spent for regional trade and connectivity, disaster preparedness and environmental management, according to the bank and Bangladesh government.  

A loan agreement was signed between Bangladesh and the lender in Washington as the signing of the agreement and its exchange was witnessed by Prime Minister Sheikh Hasina, now visiting the United States of America, and the World Bank President David Malpass.

The five projects are: 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).

Of the projects, the resilient infrastructure scheme with $500 million for adaptation and vulnerability reduction will be the first major investment programme to support Bangladesh Delta Plan-2100. It will help improve disaster preparedness against inland flooding.

The second project on Bangladesh environmental sustainable and transformation worth about $250 million will help Bangladesh strengthen environmental management and promote private sector participation in green investment.

The third one on accelerating transport and trade connectivity in Eastern South Asia-Bangladesh phase-1 with $753.45 million will help Dhaka improve regional trade and connectivity.

The fourth project on first green and climate resilient with $500 million will help the country’s transition to green and climate resilient development.

The fifth is on sustainable micro enterprise and resilient transformation involving $250 million. It will help transform the micro enterprise sector to be more dynamic, less polluting, resource efficient and climate resilient growth sector.