Tk4,275cr WB fund stuck for ECNEC approval

A massive World Bank fund of Tk 4,275 crore for a project to improve preparedness against inland flooding in Bangladesh is stuck in the pipeline for seven months as the project is yet to get the nod from the Executive Committee of the National Council (ECNEC).

The World Bank has already approved the fund for the ‘Resilient Infrastructure for Adaptation and Vulnerability Reduction (RIVER)’ project last July after completing negotiations, according to officials familiar with the matter. But it is not being released as the ECNEC is yet to approve the project.

“Due to delay of project approval, the Economic Relations Division cannot sign the loan deal with the World Bank. We have completed the negotiation in May about the project fund and the bank approved the fund in July,” a senior official of the ERD told The Business Post.

According to the project proposal, the RIVER project aims to help Bangladesh improve disaster preparedness against inland flooding in 14 flood-prone districts benefiting over 1.25 million people in the country.

It will also help Bangladesh reduce vulnerability to riverine and flash floods by constructing over 500 multipurpose flood shelters, access roads, and climate-resilient community infrastructure.

In normal times, the flood shelters will operate as primary schools and they will be equipped with solar energy systems, water, sanitation, and hygiene

facilities that cater to the needs of women and vulnerable populations.

The project will also help strengthen the capacity of communities and government agencies to prepare and respond to floods and undertake behavioural change interventions.

The cost of the project is estimated at Tk 4,323 crore, of which Tk 4,275 will come from International Development Association (IDA) of the World Bank and the remaining Tk 48 crore will come from government exchequer.

The Local Government Engineering Department (LGED) is tasked with implementing the project by June 2028.

“We have sent it to the ECNEC wing and the project is likely to be placed in the next ECNEC meeting,” said AKM Fazlul Haque, member of the Agriculture, Water Resources and Rural Institutions Division of the Planning Commission.

Sources at the commission said the next ECNEC meeting is likely to be held on March 12.