News Desk : The Asian Development Bank (ADB) and the World Bank (WB) have approved a combined loan of $1.54 billion for Bangladesh to support banking sector reform, enhance climate resilience, improve air quality, and ensure energy security.<\/p>\n
The ADB will provide $900 million for two initiatives — $500 million to strengthen the banking sector and $400 million to support climate-resilient and inclusive development.<\/p>\n
The World Bank has sanctioned $640 million for two separate projects — $350 million for the energy sector and $290 million to improve air quality.<\/p>\n
The ADB\u2019s board of directors approved the loans during a meeting held at its headquarters in Manila on Thursday.<\/p>\n
On the same day, the World Bank\u2019s executive board approved its portion of the support.<\/p>\n
According to an ADB media statement the $500 million for the banking sector aims to promote stability and transparency in Bangladesh\u2019s financial sector.<\/p>\n
The programme is expected to stabilise and reform the banking sector by strengthening regulatory supervision, corporate governance, asset quality, and financial stability, it added.<\/p>\n
The ADB said the $400 million loan — for climate-resilient and inclusive development — will be utilised to facilitate access to climate finance, establish the Bangladesh Climate Development Partnership, and develop a comprehensive disaster risk financing strategy.<\/p>\n
The World Bank, in a separate statement, said the Energy Sector Security Enhancement Project ($350 million) will help improve gas supply security by facilitating access to cost-effective financing for Petrobangla, the state-owned oil and gas company.<\/p>\n
The project will utilise a guarantee from the International Development Association (IDA) to mobilise up to $2.1 billion in private capital over seven years for new liquefied natural gas (LNG) imports.<\/p>\n
The IDA is the World Bank Group\u2019s lending arm that provides concessional loans and guarantees longer loan tenures.<\/p>\n
The other project is the $290 million \u201cBangladesh Clean Air\u201d project.<\/p>\n
Under this World Bank project, new and improved stations will be established for the Department of Environment to better monitor and control air quality.<\/p>\n
In addition, the project will also monitor major sources of air pollution.<\/p>\n
Under the project, a fleet of 400 zero-emission electric buses will be introduced. In addition, mobile inspection centres and specialised testing kits will be provided to measure pollution levels from other vehicles in the city.<\/p>\n
These interventions are expected to reduce PM2.5 emissions by nearly 2,734 metric tonnes per year.<\/p>\n","protected":false},"excerpt":{"rendered":"
News Desk : The Asian Development Bank (ADB) and the World Bank (WB) have approved a combined loan of $1.54 billion for Bangladesh to support banking sector reform, enhance climate resilience, improve air quality, and ensure energy security. The ADB will provide $900 million for two initiatives — $500 million to strengthen the banking sector […]<\/p>\n","protected":false},"author":1,"featured_media":2238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[27,46],"tags":[112,114,113],"_links":{"self":[{"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/posts\/2237"}],"collection":[{"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/comments?post=2237"}],"version-history":[{"count":1,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/posts\/2237\/revisions"}],"predecessor-version":[{"id":2240,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/posts\/2237\/revisions\/2240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/media\/2238"}],"wp:attachment":[{"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/media?parent=2237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/categories?post=2237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newstoday24hour.com\/en\/wp-json\/wp\/v2\/tags?post=2237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}