The Asian Development Bank (ADB) has pledged to provide Bangladesh with US$1 billion annually in concessional financing over the next five years to support the country’s development initiatives.
The announcement was made by ADB Country Director Hoe Yun Jeong during a meeting with Syeda Rizwana Hasan, Adviser to the Ministry of Environment, Forest, and Climate Change, at the Forest Department on Sunday.
During the meeting, they discussed ADB’s commitment to bolstering Bangladesh’s efforts in climate resilience and environmental sustainability. Adviser Rizwana Hasan underscored the importance of prioritizing climate-focused and socially inclusive initiatives over traditional infrastructure projects.
Highlighting her government’s ambitious plans to restore eight major rivers across the country’s eight divisions, Rizwana urged ADB to focus on river-cleaning initiatives around Dhaka. She emphasized the need for actionable projects instead of just formulating plans and called for concessional loans to address critical environmental challenges, including:
- Solid waste management
- Sewage treatment
- Salinity intrusion
- Waterlogging
- Human-elephant conflicts
In response, Hoe Yun Jeong assured Rizwana of ADB’s enhanced financial support, including grants, to help achieve Bangladesh’s environmental goals. He expressed strong interest in river cleaning projects and highlighted ADB’s commitment to fostering community engagement and public consultations during project implementation.
The meeting was attended by the Environment Secretary, the Chief Conservator of Forests, and other representatives from ADB.