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Bangladesh: Agreement signed for $157m ADB loan to mitigate flood risks in Bangladesh

DHAKA, 02 March 2022, (TON): The Asian Development Bank and the government of Bangladesh signed a loan agreement for $157 million to mitigate flood and riverbank erosion risks in Bangladesh.

The funding will also strengthen climate resilience through structural and nonstructural interventions, and promote knowledge-based solutions along the Jamuna, Padma, and Ganges rivers in central Bangladesh.

The government of the Netherlands will provide $17.89 million in technical assistance grant, to be administered by ADB, to help finance the second tranche of the program, and promote innovations, and capacity building.

The loan from the second and final tranche of the Flood and Riverbank Erosion Risk Management Investment Program (FRERMIP) was approved in 2014.

A press release said “Fatima Yasmin, Secretary, Economic Relations Division, and Edimon Ginting, Country Director, ADB, signed the loan and grant agreements on behalf of Bangladesh and ADB, respectively.”

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