The agreement was signed in Washington on 2 May 2023 to celebrate 50 years of partnership between the World Bank and Bangladesh. The World Bank (WB) will provide USD 2.25 billion to Bangladesh to support projects related to development, regional connectivity and disaster preparedness.
The financial agreement includes support for five projects in Bangladesh.
- The World Bank will provide USD 743.45 million to improve regional trade under its 'Accelerated Transport and Trade Connectivity in East South Asia (Access) programme, Phase-I.
- Under the Resilient Infrastructure for Adaptation and Vulnerability Reduction (RIVER) project, Bangladesh will receive USD 500 million to support its Delta Plan 2100 to improve disaster preparedness against inland flooding.
- The first Green and Climate Resilient Development Credit Project of USD 500 million will help the country transition to green and climate-resilient development.
- The USD 250 million Sustainable Microenterprise and Resilient Transformation (SMART) project will help transform the micro-enterprise sector into a more dynamic, less-polluting, resource-efficient and climate-resilient development sector.
- The Bangladesh Environmental Sustainability and Transformation (BEST) project will help Bangladesh strengthen environmental management and promote private sector participation in green investment.
RELATED
LATEST
POPULAR