Bangladesh signs US$2.25bn loan deal with World Bank

World BankFile photo

The World Bank (WB) has agreed to provide a loan of 2.25 billion US dollars to Bangladesh for five development projects on regional trade and connectivity, disaster preparedness and environmental management, reports BSS.

The loan agreement was signed at the WB headquarters in Washington on Monday. Prime minister Sheikh Hasina and WB president David Malpass were present at the agreement signing event.

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).

Of these, the resilient infrastructure project, worth US$ 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 sustainability and transformation worth about US$ 250 million will help Bangladesh strengthen environmental management and promote private sector participation in green investment.

The project on the transport and trade connectivity in Eastern South Asia-Bangladesh phase-1 worth US$ 753.45 million. It will help Dhaka improve regional trade and connectivity.

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

The project on sustainable micro enterprise and resilient transformation, which is worth US$ 250 million, will help transform the micro enterprise sector to be a more dynamic, less polluting, resource efficient and climate resilient growth sector.