The Asian Development Bank (ADB) has pledged to provide Bangladesh with $1 billion annually in concessional financing over the next five years.

ADB Country Director Hoe Yun Jeong made the commitment during a meeting with Environment, Forest, and Climate Change Adviser Syeda Rizwana Hasan at the Forest Department today (Jan 5).

The discussions focused on ADB's support for enhancing Bangladesh's climate resilience and environmental sustainability. Rizwana urged ADB to prioritize climate-focused and socially inclusive initiatives over traditional infrastructure projects.

She highlighted the government's ambitious plans to restore eight major rivers across the eight divisions and requested ADB’s assistance in river-cleaning projects around Dhaka. Rizwana also emphasized the importance of implementing tangible solutions rather than merely developing action plans.

She called for concessional loans to address pressing environmental challenges, including solid waste management, sewage treatment, salinity intrusion, waterlogging, and human-elephant conflicts, urging ADB's active involvement in these critical areas.

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.

BDST: 1704 HRS, JAN 5, 2025
MN/SMS