The Asian Development Bank (ADB) and the Bangladesh government on Monday signed agreements for $250 million in loans to strengthen climate and disaster resilience in 22 coastal towns of the country.
Economic Relations Division Secretary Sharifa Khan and ADB Deputy Country Director Jiangbo Ning inked the agreements on behalf of Bangladesh and ADB, respectively, according to a press release.
“The project prioritizes local economic development in project towns by enhancing the livelihood resilience and adaptive capacity of vulnerable households through the graduation program in six project towns with high poverty levels,” said Jiangbo Ning.
“The project will support the Government of Bangladesh in achieving integrated and sustainable urban development to improve the livability of coastal towns in the face of increasing climate-related disaster risks,” the ADB official added.
The assistance under the Coastal Towns Climate Resilience Project will develop infrastructure for building climate resilience in coastal towns, including infrastructure to improve urban flood risk management such as storm water drainage, nature-based solutions, water body restoration, and integrated waste management, read the release.
Cyclone shelters with early warning systems will be established, taking into account the needs of the elderly, women, children, and persons with special needs. Bridges, culverts, and roads with storm water drainage will be constructed and rehabilitated.
A comprehensive set of interventions in six project towns will be implemented to help vulnerable households, especially poor women, cope with climate shocks and develop livelihood resilience. These include climate risk assessment for diversifying livelihoods, household skills and resources mapping, enterprise and employment matching, and provision of livelihood training.
The project will strengthen the knowledge and capacity of the Local Government Engineering Department and the project towns in managing climate and disaster resilience.
They will be trained on nature-based and green solutions, gender equality and social inclusion-responsive climate and disaster risk sensitive master planning, and information technology-based remote monitoring to inform risk-based urban development plans and develop mitigation measures. The project will also enhance public awareness to prepare for future emergencies and crises, according to the release.
The ADB financing includes $246 million in regular and concessional loans and a $4 million grant from the Asian Development Fund. The Bangladesh government will contribute $60 million.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members — 49 from the region.
