The World Bank is lending 116 billion dollars to Bangladesh for inclusive and climate sustainable development. Which is 13 thousand 915 crore taka in Bangladeshi currency (116 taka per dollar).
According to a press release published on the World Bank website on Thursday, the World Bank's Executive Board of Directors has approved the loan for Bangladesh in these three projects – health care, water and sanitation services and green and climate sustainable development.
World Bank Country Director for Bangladesh and Bhutan Abdullaye Sek said, 'Bangladesh is one of the most vulnerable countries to climate change. The country is currently facing one of the biggest challenges of pollution. Increasing climate resilience and addressing pollution challenges has become an important development priority in every area. This new financing will provide Bangladesh with basic services including health, water and sanitation while laying the foundation for clean, climate resilient and sustainable development.'
The World Bank also said that through the 'Second Bangladesh Green and Climate Resilient Development Credit' project, allocations have been made for reforms to support the green and climate resilient development of the country. 500 million dollars (5 thousand 997 crores in Bangladeshi Taka) will be given in this project. This funding will be used to conduct green and climate resilient activities at the local and national levels. In addition, policy reforms and the promotion of clean and resource-efficient production and services in key sectors of the country. The Planning Commission has adopted guidelines for a long-term public investment program with a medium-term budget framework as a precondition for loans.
The financing supports policies to reduce air pollution, expand access to carbon markets, increase sustainable water and sanitation services, improve the efficiency of the Bangladesh Delta Plan 2100, and build a climate resilient and sustainable environment, the World Bank release said. The Planning Department has adopted the Delta Appraisal Framework for effective implementation of the Delta Plan. The financing will support sustainable public procurement, which incorporates environmental and social issues, and the development of an environmentally friendly construction industry.
The Health, Nutrition and Population Sector Development Program for Results will help improve access to quality health and nutrition services and build stable health systems in Sylhet and Chittagong divisions. The $37.9 crore (Tk 4,546 crore in Bangladeshi Taka) project will provide quality health, nutrition and population services to around 5.1 lakh people.
This project will play a role in reducing maternal mortality and neonatal mortality. In particular, services for women will be ensured in areas most vulnerable to climate change. Besides, the health system will be strengthened for screening and treatment of various chronic diseases including high blood pressure. In addition, a $25 million grant from the Global Financing Facility (GFF) will be added to improve child nutrition, adolescent health and maternal and newborn services.
Under the Chittagong Water Supply Improvement Project, safe drinking water will be provided to more than 1 million people in Chittagong. 28 crore dollars (2 thousand 389 crores in Bangladeshi taka) will be given in this project. Two lakh new household water connections will be installed and improved sanitation services will be provided to around 1 lakh people in low-income communities. Chittagong Water Supply and Sewerage Authority will be financed through this project for the development of various facilities.
The World Bank started working as one of the development partners of the country immediately after the independence of Bangladesh. Since then, the World Bank has provided more than $4,500 million in financing to Bangladesh. In recent years, Bangladesh has been one of the countries receiving interest-free loans from the World Bank.
