World Bank approves $1.16 billion for three projects in Bangladesh

The World Bank today approved three loans totaling $1.16 billion to help Bangladesh improve its health services, strengthen its water and sanitation services, and achieve greener, climate-resilient development. climate, she said in a press release.

Of this, $500 million falls under Bangladesh’s second Green and Climate Resilient Development Credit and the WB said the fund would support reforms to help the country transition to green and climate resilient development.

“The funding supports policy reforms aimed at improving public planning, financing and implementation of green and climate-resilient interventions at local and national levels and promoting clean and resource-efficient production and services in sectors keys,” he said.

The WB said that as a precondition for granting the credit, the Planning Commission adopted the guidelines of the multi-year public investment program for key sectors, integrated into the medium-term budgetary framework.

Funding also supports policies to reduce air pollution, improve environmental enforcement, expand access to carbon markets, improve sustainable water and sanitation services, improve the effectiveness of Bangladesh’s Delta Plan 2100 and promote a sustainable and climate-resilient environment, he added.

The financing also supports sustainable public procurement integrating environmental and social considerations, the multilateral agency said, adding that the loan will further contribute to improving the energy efficiency of buildings and household appliances and encourage the construction sector to become more ecological.

In addition, the WB Board of Directors approved a credit of $379 million under the Health, Nutrition and Population Sector Development Program aimed at improving access to health services and quality nutrition and build resilient health systems in Sylhet and Chattogram divisions.

It will provide quality health, nutrition and population services to around 5.1 million people, the WB said.

The program will help reduce maternal and neonatal mortality by increasing the number of births, both normal delivery and cesarean section, in public health facilities.

Alongside WB funding, the Global Financing Facility for Women, Children and Adolescents (GFF) is providing a $25 million catalytic grant to help the government prioritize interventions such as child nutrition , adolescent health, quality maternal and newborn care, data use and coordination.

The WB said it had approved the $280 million Chattogram Water Supply Improvement Project to provide safe drinking water through new and rehabilitated piped water connections to more than a million people in Chattogram.

It will construct around 200,000 new domestic water connections and provide improved sanitation services to around 100,000 people in low-income communities, the WB said, adding that the project is part of a regional initiative of the Bank in South Asia or a program of programs aimed at providing water and sanitation. and hygiene (WASH) to around 100 million people in the region by 2035.

The WB said the project will also help the Chattogram Water Supply and Sewerage Authority (CWASA) improve its operational efficiency and financial sustainability and address issues related to water loss such as high levels of leakages, inaccuracies meters and illegal connections.

World Bank Country Director for Bangladesh and Bhutan, Abdoulaye Seck, said the new financing will provide the people of Bangladesh with essential services such as health, water and sanitation, while laying the foundations of clean, climate-resilient and sustainable development.

He said Bangladesh is one of the countries most vulnerable to climate change and faces the biggest pollution challenges.

“Improving climate resilience in all sectors and combating the scourge of pollution has become a key development priority.”

The WB has so far committed over $45 billion in International Development Association (IDA) financing in the form of grants, interest-free loans and concessional credits to help the country meet its development priorities after the independence of Bangladesh.