B Mirror Desk : Bangladesh has received a US$550 million loan from the World Bank for two projects. This sum is equal to 6,688 crore taka (121.60 taka per dollar) in Bangladeshi currency. On Sunday, May 25, the government of Bangladesh and the World Bank inked a loan agreement. Ms. Gayle H. Martin, the World Bank’s Country Director (Interim), and Md. Shahriar Quader Siddiqui, Secretary of the Economic Relations Division (ERD), signed the loan agreement on behalf of the government of Bangladesh.

According to the World Bank, a US$280 million loan deal for the Chittagong Water Supply Project has been signed. The World Bank Group’s International construction Association (IDA) and the government of Bangladesh are contributing US$280 million as a significant step in the construction of Chittagong’s water delivery infrastructure. It is anticipated that this project will guarantee a better and safer water supply for Chittagong’s expanding population. The city’s general quality of life and public health will both benefit from this. The Chittagong Water Supply Development Project would be the recipient of the funds.

The group added that a $270 million loan from the World Bank has been given for a different catastrophe preparedness and recovery project. This $270 million loan from the International Development Association (IDA) of the World Bank Group will help the government of Bangladesh improve its ability to respond to disasters and recover sustainably. The Sustainable Recovery, Emergency Preparedness, and Response Project in Bangladesh will be funded using this funding.

With a view to the World Bank, this project will significantly improve Bangladesh’s ability to prepare for and handle disasters. In addition, it will support sustainable development and quick recovery following calamities. Which will successfully aid in safeguarding the nation’s most vulnerable citizens.