WB approves $270m financing to support Bangladesh in flood risk reduction

The World Bank’s Board of Executive Directors on Wednesday approved $270 million financing to bolster Bangladesh’s flood recovery efforts and enhance its resilience to future disasters, including support for constructing and rehabilitating critical infrastructure, strengthening agricultural system and improving livelihoods in areas devastated by the August 2024 floods, reports AFP.

The Bangladesh Sustainable Recovery, Emergency Preparedness and Response (B-STRONG) Project will build and reconstruct rural and flood protection infrastructure in Chattogram and Sylhet Divisions, providing protection to 1.6 million people.

Taking a comprehensive approach, the project will also promote climate resilient agriculture and help the vulnerable communities with livelihood support, according to a World Bank press release received here today.

“Bangladesh is regarded as a leader in climate change adaptation and disaster preparedness. But the increasing climate risks and more frequent and severe natural disasters take a heavy toll on communities and the economy. Building resilience against natural disasters is both a development and an economic priority for Bangladesh,” said Gayle Martin, World Bank Interim Country Director for Bangladesh.

“This project will strengthen the country’s disaster preparedness system and improve livelihoods and bolster food security for those hardest hit by floods in Sylhet and Chattogram divisions.” added Martin.

This project will help the country recover from this flood and build resilience to future floods by addressing damages to infrastructure, agriculture, and livelihoods in Eastern districts.

The project will construct and rehabilitate 79 multi-purpose flood shelters and repair and climate-proof connecting roads and bridges.

These shelters would operate as primary schools in normal weather. It will also construct, repair, and rehabilitate flood protection infrastructure, including embankments and re-excavate canals. It will also support improving flood forecasting system. It will help communities improve disaster preparedness through providing boats, equipment, training, and drills.

“The project addresses both recovery and reconstruction needs as well as long-term disaster resilience,” said Swarna Kazi, World Bank Senior Disaster Risk Management Specialist and Task Team Leader for the project here.

“The project will provide truly integrated responses that combine physical interventions and non-physical activities, ensuring a holistic approach to recovery and resilience building, and reducing future flood risks, and preventing vulnerable populations from being left behind.” added Kazi.

The project will also help flood impacted communities to enhance earning opportunities by providing financial support and market-relevant skill development training and also offering temporary employment opportunities. Over 380,000 people will benefit from economic inclusion programs and cash-based interventions.

At least 65,000 farm households will receive support to improve agricultural productivity through the adoption of high-yielding, climate-resilient, and sustainable crop production technologies and access to agricultural machinery and improved irrigation and storage facilities.

The project will set up seed villages to supply quality seeds and seedlings, support women in homestead and community gardening, and create farmer groups to share knowledge on sustainable agricultural practices. Consequently, food security and nutrition will improve too.

The multi-sectoral nature of the project supports sectors that were not sufficiently covered by existing flood recovery initiatives.

The World Bank was among the first development partners to support Bangladesh following its independence. Since then, the World Bank has committed more than $45 billion in grants and interest-free credits to Bangladesh. In recent years, Bangladesh has been among the largest recipients of the World Bank’s interest-free credits.