Bangladesh, World Bank sign US$ 2.25 billion loan agreement comprising 5 projects

ZOOMBANGLA DESK: World Bank will provide USD 2.25 billion as loan to Bangladesh to develop various sectors, including regional trade and connectivity, disaster preparedness and environmental management.

A loan agreement was signed on Monday (May 01, 2023) between Bangladesh and the World Bank for implementing five projects.

Prime Minister Sheikh Hasina and World Bank President David Malpass witnessed the exchanges of the financing agreement.

This loan agreement comprises five projects:

·Accelerating transport and trade connectivity in Eastern South Asia (ACCESS) – Bangladesh Phase-1 Project worth USD 753.45 million.

·USD 500 million Resilient Infrastructure Building Project (RIVER) for resilience, adaptation and vulnerability reduction that will be the first major investment to support Bangladesh’s Delta Plan 2100. It will help improve disaster preparedness against inland flooding.

·USD 500 million First Bangladesh Green and Climate Resilient Development (GCRD) project is the first such credit that will help the country’s transition to resilient development.

·USD 250 million Sustainable Microenterprise and Resilient Transformation (SMART) project aims to help transform the microenterprise sector into a more dynamic, less polluting, resource efficient and climate resilient growth sector.

·USD 250 million Bangladesh Environmental Sustainability and Transformation (BEST) project to help strengthen environmental management and promote private sector participation in green investment. (UNB)