ADB to provide $1b annually for Bangladesh's inclusive development

The Asian Development Bank (ADB)  has pledged to provide  $1 billion annually to support Bangladesh's inclusive development in climate resilience and environmental sustainability.

Its Country Director Hoe Yun Jeong met with Syeda Rizwana Hasan, adviser to the Ministry of Environment, Forest and Climate Change, and the Ministry of Water Resources, at the Forest Department in Dhaka today (5 January), according to a media statement.

During the meeting, Rizwana emphasised the ADB's increased focus on climate-focused and socially inclusive activities over traditional infrastructure projects. 

Highlighting the government's plans to restore eight major rivers across the country's eight divisions, she urged the ADB to prioritise river-cleaning initiatives around Dhaka.

The adviser also stressed the need for tangible actions on the ground instead of merely formulating action plans. 

She called for concessional loans and sought the ADB's support in addressing key environmental challenges, including solid waste management, sewage treatment, salinity intrusion, waterlogging, and human-elephant conflicts.

ADB Country Director Hoe Yun Jeong said they will provide Bangladesh with $1 billion annually in concessional financing over the next five years. 

He assured enhanced financial support, including grants, to advance Bangladesh's environmental goals. 

He expressed a strong interest in river cleaning projects. Additionally, he highlighted ADB's commitment to increasing community engagement and public consultations during project implementation.

Senior officials, including the environment secretary, joint secretary, chief conservator of forests, and representatives from the ADB, were present at the meeting, underscoring the collaborative efforts to address Bangladesh's environmental challenges.