HomeRegional UpdateAsiaWB authorizes $500 million disaster preparation loans for Bangladesh

WB authorizes $500 million disaster preparation loans for Bangladesh

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Dhaka, Bangladesh (CU)_ The World Bank has provided a $500 million loan to Bangladesh to boost disaster preparation against inland floods in 14 areas that are prone to flooding, which would benefit more than 1.25 million people. According to a media statement issued by the World Bank, the goal of the Resilient Infrastructure for Adaptation and Vulnerability Reduction (RIVER) project is to assist Bangladesh in minimizing its vulnerability to riverine and flash floods by building more than 500 multipurpose flood shelters, access roads, and climate-resilient community infrastructure.

During normal days, these flood shelters will serve as primary classrooms and will be provided with solar energy systems, water, sanitation, and hygiene facilities that are tailored to the requirements of women and vulnerable people. In addition, the project will assist in enhancing the ability of communities and government agencies to prepare for and better respond to flooding, as well as implement behavioral change initiatives.

According to Mercy Tembon, World Bank country director for Bangladesh and Bhutan, “The heart-wrenching flood situation in Sylhet region is a stark reminder of the increasing risks of climate change to development – more frequent, unpredictable and intense natural disasters”. She added, “Building on our five-decade-long partnership of improving disaster risk management in the coastal region, this project will help Bangladesh improve disaster preparedness in the non-coastal flood-prone areas. It will also support the country’s transition from a disaster response to a disaster risk management approach.”

thefinancetoday.net

Bangladesh is a low-lying delta region, which is extremely susceptible to natural catastrophes caused by climate change, such as floods and cyclones. The magnitude and intensity of floods are growing due to climate change. According to the World Bank, floods and riverbank erosion harm around one million people annually, and the figure might be significantly higher in the coming years.

In order to help protect lives and properties, the project would implement its initiatives in the high flood-prone regions of the Teesta-Brahmaputra-Jamuna, Padma, and Surma-Meghna river basins, including Nilpamari, Lalmonirhat, Kurigram, Rangpur, Gaibandha, Bogura, Pabna, Sirajganj, Rajbari, Faridpur, Gopalganj, Madaripur, Sunamganj, and Habigan. Additionally, the project will provide a database on the availability and quality of flood shelters, which will be essential for disaster preparation and future investment planning.

According to Ignacio Urrutia, World Bank team leader for the project, “Inadequate evacuation facilities for people and their livestock in highly flood-prone areas not only leads to the loss of lives and livelihoods, but it also hampers the ability to provide adequate relief”. He added, “This project will contribute to developing evacuation facilities that provide WASH, apply gender-sensitive design, and provide sufficient space for community members and livestock, while at the same time benefiting the community in regular times.”

The initiative will help both the Bangladesh Delta Plan 2100,  which is a long-term goal to have a safe, climate-resilient, and prosperous delta, and the World Bank Group’s Climate Change Action Plan 2021-2025. The loan is from the International Development Association (IDA) of the World Bank, which grants concessional financing, with a 30-year term and five-year grace period. At present, Bangladesh boasts the world’s largest active IDA program.

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