World Bank Approves $1.16 Billion for Bangladesh's Green Development

The World Bank has approved three funding operations totaling USD 1.16 billion to support Bangladesh in enhancing health services, improving water and sanitation, and fostering climate-resilient development. The initiatives aim to tackle pollution, reduce maternal mortality, and provide clean water to over a million people in Chattogram.

The World Bank's Board of Executive Directors has given the green light to three initiatives worth a collective USD 1.16 billion to bolster Bangladesh's health services, enhance water and sanitation provision, and promote greener, climate-resilient development, according to a statement released on Friday.

Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, highlighted the urgency of addressing climate resilience and pollution in Bangladesh, stating that these elements have become crucial to the country's developmental objectives. With this financing, vital services including health and water will reach the people of Bangladesh, laying the groundwork for sustainable progress.

The second phase of Bangladesh's Green and Climate Resilient Development Credit, valued at USD 500 million, aims to support strategic reforms for transitioning to environmentally sustainable growth. This involves enhancing the planning and financing frameworks for green initiatives, promoting energy-efficiency in the construction sector, and expanding access to clean water for over a million residents in Chattogram.

In health, the USD 379 million Health, Nutrition, and Population Sector Development Program is designed to elevate healthcare in the Sylhet and Chattogram regions by improving maternal and neonatal services and building resilient health systems, in partnership with a USD 25 million grant from the Global Financing Facility for Women, Children and Adolescents.

The USD 280 million Chattogram Water Supply Improvement Project will construct new water connections and improve sanitation services for over 100,000 individuals in low-income sectors. It also aims to reduce water loss and enhance operational efficiency within the Chattogram Water Supply and Sewerage Authority.

This financing is part of an overarching strategy by the World Bank, which has committed more than USD 45 billion to Bangladesh since its independence, consolidating its status as a major benefactor of Bangladesh's developmental journey.

(With inputs from agencies.)