The World Bank has approved $1.16 billion in financing to support Bangladesh's development in health services, water and sanitation, and climate resilience. The funding will be distributed across three initiatives aimed at addressing the country's vulnerability to climate change and pollution challenges.
Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan, stated, "Bangladesh is among the most vulnerable countries to climate change and faces immense pollution challenges. Improving climate resilience in every sector and tackling pollution has become a critical development priority." He emphasized that the financing would aid in delivering essential services such as health and water while fostering sustainable development.
A significant portion of the funding, $500 million, is allocated to the Second Bangladesh Green and Climate Resilient Development Credit. This initiative aims to facilitate reforms for transitioning towards greener development by enhancing public planning, promoting resource-efficient production, reducing air pollution, improving environmental enforcement, expanding access to carbon markets, and advancing a sustainable environment.
Additionally, $379 million is designated for the Health, Nutrition, and Population Sector Development Program-For-Results. This program targets improved healthcare access in Sylhet and Chattogram divisions by providing quality health services to approximately 5.1 million people. It aims to reduce maternal and neonatal mortality rates by increasing deliveries in public facilities while ensuring care reaches women in climate-vulnerable districts.
The remaining $280 million will fund the Chattogram Water Supply Improvement Project. This project seeks to provide safe water through new connections for over one million residents of Chattogram. It also includes plans for improved sanitation services for low-income communities while enhancing operational efficiency within the Chattogram Water Supply and Sewerage Authority (CWASA).
Since its independence, Bangladesh has received over $45 billion from the World Bank through grants and loans under the International Development Association (IDA). In recent years, it has been one of the largest recipients of interest-free credits from the organization.