The government will get a concessional loan of USD 400 million from the
International Development Association (IDA) of the World Bank (WB) to
enable the coastal people to combat flood and other natural disasters.
An agreement to this effect will be signed between the Economic Relation
Division (ERD) and the WB at the WB’s Dhaka office on Tuesday, ERD
sources said.
With the approval of this project, the WB’s total concessionary lending to Bangladesh will reach USD 1.6 billion in the fiscal year 2013-14.
On June 27 this year, the WB had approved USD 375 million in concessional financing and USD 25 million in a grant to Bangladesh to increase the coastal population’s resilience to climate change-induced flooding and other natural disasters.
The Coastal Embankment Improvement Project will upgrade the country’s embankment system by increasing the area protected by polders from tidal flooding and frequent storm in six coastal districts.
The project will rehabilitate 17 polders in six coastal districts-- Bagerhat, Khulna, Satkhira, Barguna, Patuakhali and Pirojpur.
The rehabilitated polders would protect 760,000 people living within the polder boundaries. Around 8.5 million people living in these six coastal districts would also benefit from agriculture development, employment and food security.
Earlier, Johannes Zutt, World Bank country director for Bangladesh and Nepal, said, “Climate change is no longer only an environmental issue, it has become a development issue.”
“Adaptation to increased risks from climate-induced weather events is essential for development in Bangladesh. The project takes into account 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,” he added.
Bangladesh’s coastal zone spreads over 580 km, where 28 per cent of the country’s population resides. A higher percentage of population lives below absolute poverty line in the coastal area compared to the rest of the country.
The new project will help reduce poverty and stimulate economic progress by facilitating the growth of farm and non-farm activities in the coastal area.
The project would increase agricultural productivity as the reconstructed polders would prevent saline water intrusion.
A recent WB study on the cost of adapting to extreme weather estimated that currently eight million people
are vulnerable to inundation depths greater than three metres due to cyclonic
storm surges. This number will increase to 13.5 million by 2050 and by an additional nine million due to climate change.
Rehabilitating and upgrading the polders’ height will enhance the resilience of coastal areas to cyclones, tidal and flood inundations, and salinity intrusion.
This, in turn, will increase agricultural production during normal weather and reduce the loss of life, assets, crops and livestock in the event of a disaster.
The IDA credits have 40 years of maturity with a 10-year grace period; they carry a service charge of 0.75 per cent.
According to the detailed project plan (DPP), the objectives of the First Phase of the Coastal Embankment Improvement Project for Bangladesh are to increase the area protected in selected polders from tidal flooding and frequent storm surges, which are expected to worsen due to climate change; improve agricultural production by reducing saline water intrusion in selected polders; and improve the Government of Bangladesh’s capacity to respond promptly and effectively to a crisis or an emergency.
With the approval of this project, the WB’s total concessionary lending to Bangladesh will reach USD 1.6 billion in the fiscal year 2013-14.
On June 27 this year, the WB had approved USD 375 million in concessional financing and USD 25 million in a grant to Bangladesh to increase the coastal population’s resilience to climate change-induced flooding and other natural disasters.
The Coastal Embankment Improvement Project will upgrade the country’s embankment system by increasing the area protected by polders from tidal flooding and frequent storm in six coastal districts.
The project will rehabilitate 17 polders in six coastal districts-- Bagerhat, Khulna, Satkhira, Barguna, Patuakhali and Pirojpur.
The rehabilitated polders would protect 760,000 people living within the polder boundaries. Around 8.5 million people living in these six coastal districts would also benefit from agriculture development, employment and food security.
Earlier, Johannes Zutt, World Bank country director for Bangladesh and Nepal, said, “Climate change is no longer only an environmental issue, it has become a development issue.”
“Adaptation to increased risks from climate-induced weather events is essential for development in Bangladesh. The project takes into account 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,” he added.
Bangladesh’s coastal zone spreads over 580 km, where 28 per cent of the country’s population resides. A higher percentage of population lives below absolute poverty line in the coastal area compared to the rest of the country.
The new project will help reduce poverty and stimulate economic progress by facilitating the growth of farm and non-farm activities in the coastal area.
The project would increase agricultural productivity as the reconstructed polders would prevent saline water intrusion.
A recent WB study on the cost of adapting to extreme weather estimated that currently eight million people
are vulnerable to inundation depths greater than three metres due to cyclonic
storm surges. This number will increase to 13.5 million by 2050 and by an additional nine million due to climate change.
Rehabilitating and upgrading the polders’ height will enhance the resilience of coastal areas to cyclones, tidal and flood inundations, and salinity intrusion.
This, in turn, will increase agricultural production during normal weather and reduce the loss of life, assets, crops and livestock in the event of a disaster.
The IDA credits have 40 years of maturity with a 10-year grace period; they carry a service charge of 0.75 per cent.
According to the detailed project plan (DPP), the objectives of the First Phase of the Coastal Embankment Improvement Project for Bangladesh are to increase the area protected in selected polders from tidal flooding and frequent storm surges, which are expected to worsen due to climate change; improve agricultural production by reducing saline water intrusion in selected polders; and improve the Government of Bangladesh’s capacity to respond promptly and effectively to a crisis or an emergency.
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