Govt inks $71m loan agreement with ADB for climate-resilient water management
The project will be implemented between January 2024 and December 2028
The government has signed a $71 million loan agreement with the Asian Development Bank (ADB) for climate-resilient water management.
Md Shahriar Kader Siddiky, secretary of the Economic Relations Division (ERD) at the Ministry of Finance, signed the agreement on behalf of Bangladesh, while Edimon Ginting, country director of the Bangladesh Resident Mission at ADB, signed it on behalf of ADB.
Senior officials of the Bangladesh government and ADB attended the signing ceremony today (20 April).
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The Bangladesh Water Development Board will implement the project under the Ministry of Water Resources.
The objectives of the project are achieving high socio-economic conditions in the project area by increasing agricultural, fisheries and other related development through the improved drainage congestion system.
It also aims to implement integrated water resources and participatory water management plans in the project area.
The project will be implemented between January 2024 and December 2028
ADB Ordinary Operations (concessional) loan is repayable in 25 years, including a five-year grace period. Its interest rate is fixed at 2%.
