UNB, Dhaka :
The government on Sunday signed agreements with the Asian Development Bank (ADB) for $82 million in loans and $12 million in grants to protect coastal towns from natural disasters and climate change.
Economic Relations Division (ERD) Joint Secretary Saifuddin Ahmed and Country Director of ADB’s Bangladesh Resident Mission Kazuhiko Higuchi signed the deals on behalf of their respective sides at a ceremony at ERD in city’s Sher-e-Bangla Nagar.
The assistance will support eight vulnerable secondary coastal towns in building up their climate resilience and disaster preparedness.
The towns are Amtali, Galachipa, Mathbaria, Pirojpur, Barguna, Bhola, Daulat Khan, and Kalapara, which have been selected based on their needs, population size and density, and the level of past investments.
Of the $82 million ADB loan, $52 million is from the concessional Asian Development Fund (ADF) resources while the rest $30 million from the ADB Strategic Climate Fund (SCF).
The ADF loan will have a 25-year term, including a grace period of 5 years, and an interest rate of 2.0 percent per annum during the grace period and thereafter, while the ADB-SCF loan to have a 40-year term, including a grace period of 10 years and
The government on Sunday signed agreements with the Asian Development Bank (ADB) for $82 million in loans and $12 million in grants to protect coastal towns from natural disasters and climate change.
Economic Relations Division (ERD) Joint Secretary Saifuddin Ahmed and Country Director of ADB’s Bangladesh Resident Mission Kazuhiko Higuchi signed the deals on behalf of their respective sides at a ceremony at ERD in city’s Sher-e-Bangla Nagar.
The assistance will support eight vulnerable secondary coastal towns in building up their climate resilience and disaster preparedness.
The towns are Amtali, Galachipa, Mathbaria, Pirojpur, Barguna, Bhola, Daulat Khan, and Kalapara, which have been selected based on their needs, population size and density, and the level of past investments.
Of the $82 million ADB loan, $52 million is from the concessional Asian Development Fund (ADF) resources while the rest $30 million from the ADB Strategic Climate Fund (SCF).
The ADF loan will have a 25-year term, including a grace period of 5 years, and an interest rate of 2.0 percent per annum during the grace period and thereafter, while the ADB-SCF loan to have a 40-year term, including a grace period of 10 years and
