The World Bank has approved a financial package worth US$ 400 million to improve Bangladesh’s flood defences.
The funds, which consist of a US$ 375 million loan and US$ 25 million grant, will be used to upgrade the embankment system to protect against tidal flooding and frequent storm surges in six coastal districts.
The Coastal Embankment Improvement Project will rehabilitate 17 polders (low-lying, reclaimed areas of land protected by dykes) in Bagerhat, Khulna, Satkhira, Barguna, Patuakhali, and Pirojpur.
The rehabilitated polders would provide direct protection to the 760,000 people living within the boundaries.
“Climate Change is no longer only an environmental issue; it is a development issue,” said Johannes Zutt, World Bank country director for Bangladesh and Nepal.
“Adaptation to increased risks from climate-induced weather events is essential for development in Bangladesh. The project takes account of climate change induced sea level rise and increase in the intensity and frequency of tidal surges and floods while designing and climate-proofing the polders.”