ADB Approves $200 Mn Loan For Infrastructure In Bangladesh

ADB Approves $200 Mn Loan For Infrastructure In Bangladesh

The Asian Development Bank (ADB) will offer the Government of Bangladesh a loan of USD 200 million to strengthen urban infrastructure, service delivery and governance in municipalities.

“The country’s pourashavas still need significant investment to not only improve service delivery and the urban environment, but also to strengthen resilience to climate change,” the Daily Star quoted Alexandra Vogl. Urban Development Specialist of ADB, as saying.

“This additional ADB financing for the well performing Third Urban Governance and Infrastructure (Sector) Project builds on the work of two previous ADB projects, expanding work in the pourashavas where we are already working and into five new ones,” the official added.

According to Daily Star, despite Bangladesh’s rapid economic growth averaging at 6.6 percent gross domestic product growth in 2014-2016, the government facing challenges to achieve sustainable and inclusive growth in the face of rapid urbanisation.

As per the report, “With particular emphasis on promoting climate resilience and gender equity, the additional ADB financing approved this week will enable the continued funding of priority infrastructure and governance improvements in 35 municipalities with a total population of 3.1million. The project will also allocate funds based on governance performance to the top-performing remaining municipalities in the country.” Read more


Credit By:- Outlook India

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