The World Bank is lending Bangladesh 400 million dollars. The Government of Bangladesh and the World Bank’s International Development Association (IDA) inked a loan agreement today, Sunday, to implement the Resilient Urban and Territorial Development Project. The primary objectives of the initiative are to improve urban services and develop effective governance.
The World Bank is lending Bangladesh: The agreement was signed on behalf of the Government of Bangladesh by Farid Aziz, Additional Secretary of the Economic Relations Division, and on behalf of IDA by Abdoullaye Sek, the World Bank’s Country Director. Officials from several Bangladeshi ministries, prominent World Bank officials, and journalists attended the signing ceremony. According to the press release.
The Local Government Engineering Department (LGED) of the Ministry of Local Government will carry out this project by June 2030. The project’s objectives are to: (a) increase basic urban services, including operations and maintenance activities; (b) establish good governance in cities, enhance financial management, and strengthen activities to increase revenue from local sources; and (c) improve the institutional capacity of municipalities and city corporations in planning, financing, implementation, operation, and maintenance activities to ensure the effectiveness and sustainability of the components.
Once the project is completed, climate-resilient and upgraded urban infrastructure will be created. As a result, 17 million individuals across 81 municipalities and six city corporations will benefit.
The World Bank is lending Bangladesh…
