Dhaka, Dec 23 (NationPress) The government of Bangladesh and the World Bank have entered into two financing agreements amounting to 900 million USD to assist the nation in achieving environmental sustainability and enhancing climate resilience, especially in urban infrastructure and promoting inclusive growth.
The $500 million "Second Bangladesh Green and Climate Resilient Development Credit" is designed to foster policies that will facilitate the country's shift towards green and climate-resilient development, as stated in a media release received here on Sunday.
This financing will also support initiatives aimed at reducing air pollution, strengthening environmental regulations, increasing access to carbon markets, improving sustainable water and sanitation services, enhancing the effectiveness of the Bangladesh Delta Plan 2100, and promoting a climate-resilient and sustainable environment.
The $400 million "Resilient Urban And Territorial Development Project" aims to bolster climate-resilient and gender-sensitive urban infrastructure and improve urban management capabilities across seven city clusters located along the economic corridor, which spans over 950 kilometres from Cox's Bazar in the south to Panchagarh in the north of Bangladesh.
Approximately 17 million people residing in these targeted urban areas will benefit from this project, according to the media release.
Previously, on Friday, the World Bank approved three initiatives totaling $1.16 billion to assist Bangladesh in enhancing health services, water and sanitation services, and achieving greener, climate-resilient development.
"This new funding will provide essential services such as health care and water and sanitation to the people of Bangladesh, while also establishing a foundation for clean, climate-resilient, and sustainable development," stated Abdoulaye Seck, the World Bank country director for Bangladesh and Bhutan, in a statement received here on Friday. Bangladesh is recognized as one of the most vulnerable countries to climate change and faces significant pollution challenges.
