ADB Announces Support for Climate Resilience Activities in Bangladesh
1 October 2012: The Asian Development Bank (ADB) and its partners are cooperating to provide financial support to the Government of Bangladesh to improve the country's resilience to the impacts of climate change. The support is being provided under the Coastal Climate-Resilient Infrastructure Project, which aims to improve climate resilience by, among other things, financing: upgrades of 540 kilometers of roads, bridges and culverts; improvements to rural markets; and construction of cyclone and animal shelters.
Under this agreement, ADB will provide US$20 million in concessional loan finance to the Government of Bangladesh and an additional US$30 million from the ADB-administered Strategic Climate Fund. The International Fund for Agricultural Development (IFAD) and the German Government-owned development bank KfW will provide parallel co-financing of US$60 million equivalent and US$8.8 million equivalent, respectively. The Government of Bangladesh will also contribute over US$31 million to the project.
The project will target climate resilience improvements in 12 rural coastal districts in the south-western region of Bangladesh, including: Bagerhat, Barguna, Barisal, Bhola, Gopalganj, Jhalokati, Khulna, Madaripur, Patuakhali, Perojpur, Satkhira, and Shariatpur. Road upgrades are expected to include improving existing roads to climate-resilient standards and the widening and rising of embankments, including slope protection against erosion and wave action. [ADB Press Release]