Dhaka: The Bangladeshi government and the World Bank have signed two financing agreements totaling 900 million USD to help the country achieve environment sustainability and climate resilience, including in urban infrastructure and inclusive growth.
The $500 million “Second Bangladesh Green and Climate Resilient Development Credit” will support policies to help the country’s transition to green and climate-resilient development, according to a media release received here Sunday.
The financing also supports policies to reduce air pollution, improve environmental enforcement, expand access to carbon markets, enhance sustainable water and sanitation services, improve the efficiency of the Bangladesh Delta Plan 2100, and advance a climate-resilient and sustainable environment.
The 400 million “Resilient Urban and Territorial Development Project” will help improve climate-resilient and gender-responsive urban infrastructure and urban management capacities in seven city clusters along the economic corridor covering over 950 kilometres of the highway from Cox Bazaar in the south to Panchagarh in north of Bangladesh.
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The project will benefit about 17 million people living in these selected urban areas, according to the media release.
Earlier on Friday the World Bank approved three operations totaling $1.16 billion to help Bangladesh improve health services, water and sanitation services and achieve greener and climate-resilient development.
“These new financing will bring to the people of Bangladesh essential services such as health and water and sanitation while laying the foundation for clean, climate resilient and sustainable development,” Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan, said in a statement received here Friday, as Bangladesh is among the most vulnerable countries to climate change and faces the greatest pollution challenges.