Bangladesh has received a $1.16 billion loan from the World Bank for three projects. That is 139.2 billion taka in Bangladeshi currency (120 taka per dollar).
According to information provided by the organization’s Dhaka office on Friday (December 20), the World Bank’s Board of Executive Directors approved the loan for Bangladesh.
The projects include improving health services, improving water and sanitation services, and green and climate-resilient development.
In this regard, World Bank Country Director Abdullaye Sek said, Bangladesh is one of the countries most vulnerable to climate change. It faces the biggest pollution challenge. Improving climate resilience in every sector and combating pollution disasters has become a key development priority. This new financing will improve essential services such as health, water and sanitation for the people of Bangladesh. He expressed his hope that through this, it will lay the foundation for clean, climate-resilient and sustainable development.
The World Bank said in a statement that the $500 million ‘Second Bangladesh Green and Climate Resilient Development Credit’ will support reforms to help the country transition to green and climate-resilient development. The financing supports policy reforms to improve public planning and financing and implementation of green and climate-resilient interventions at the local and national levels, and promotes clean and resource-efficient production and services in key sectors.
However, as a precondition for the loan, the Planning Commission has adopted a multi-year public investment program guideline for the key sector integrated with the medium-term budget framework.
Referring to the Delta Plan, it was said that the financing supports policies to reduce air pollution, improve environmental performance, expand access to carbon markets, improve sustainable water and sanitation services, improve the effectiveness of the Bangladesh Delta Plan 2100, and advance a climate-resilient and sustainable environment. For the effective implementation of the Delta Plan, the Planning Department has adopted the Delta Assessment Framework. The funding supports sustainable public procurement by incorporating environmental and social considerations. It will improve the energy efficiency of buildings and equipment and encourage the construction sector to become greener.
In addition, the $379 million ‘Health, Nutrition and Population Sector Development Program’ will help improve people’s access to quality health and nutrition services and build resilient health systems in Sylhet and Chittagong divisions. It is said to provide quality health, nutrition and population services to about 5.1 million people.
Regarding reducing neonatal mortality, it is said that this program will help reduce maternal and neonatal mortality by increasing the number of births in public health facilities, both normal and cesarean section deliveries. It will ensure that vulnerable women in the most climate-vulnerable districts are reached. The program will strengthen the health system to effectively respond to growing health needs, such as screening and treatment of high blood pressure and other conditions. In addition to the World Bank’s financing, the Global Financing Facility for Women, Children and Adolescents is providing a catalytic $25 million grant to support child nutrition, adolescent health, quality maternal and newborn care, data use, and coordination.
The announcement said the $280 million ‘Chittagong Water Supply Improvement Project’ will provide safe water to more than one million people in Chittagong with new and rehabilitated piped water. The project will provide water connections to about 200,000 new households and improved sanitation services to about 100,000 people in low-income communities. The project is to provide water, sanitation and hygiene services to about 100 million people in the region by 2035.
