ADB commits $1b yearly to Bangladesh for next 5yrs
NN Online:
The Asian Development Bank (ADB) has announced that it will provide $1 billion annually in concessional financing to Bangladesh over the next five years.
ADB Country Director Hoe Yun Jeong came up with the assurance when he met Environment, Forest and Climate Change Adviser Syeda Rizwana Hasan at the Forest Department on Sunday.
During the meeting, they discussed ADB’s commitment to supporting Bangladesh’s climate resilience and environmental sustainability.
Rizwana emphasised ADB’s increased focus on climate-focused and socially inclusive activities over traditional infrastructure projects.
Highlighting her government’s ambitious plans to restore eight major rivers across the country’s eight divisions, she urged ADB to prioritise river cleaning initiatives around Dhaka.
The environment adviser also stressed the need for tangible actions on the ground instead of merely formulating action plans.
She called for concessional loans and sought ADB’s support in addressing key environmental challenges, including solid waste management, sewage treatment, salinity intrusion, waterlogging, and human-elephant conflicts.
Yun Jeong said ADB will provide Bangladesh with US$ 1 billion annually in concessional financing over the next five years.
He assured enhanced financial support, including grants, to advance Bangladesh’s environmental goals.
The ADB country director expressed strong interest in river cleaning projects. In addition, he highlighted ADB’s commitment to increasing community engagement and public consultations during project implementation.
The environment secretary, chief conservator of forests and representatives from ADB were present at the meeting.