DHAKA, April 20, 2024 (BSS) - The government today signed a US$71 million

loan agreement titled "Loan 4440-BAN: Climate-Resilient Integrated Southwest
Project for Water Resources Management" with the Asian Development Bank (ADB)
for ensuring climate resilient water resources management.

Md. Shahriar Kader Siddiky, secretary of Economic Relations Division (ERD),
and Edimon Ginting, country director of Bangladesh Resident Mission of the
ADB, signed the loan agreement on behalf of their respective sides.

Senior officials of the government of Bangladesh and ADB were present at the
signing ceremony, said an ERD press release.

The Project will be implemented by Bangladesh Water Development Board under
the Ministry of Water Resources.
 
The objectives of the project are-- achieving high socio-economic condition
of the project area by increasing agricultural, fisheries and other related
development through the improved drainage congestion system, implementation
of integrated water resources and participatory water management plans in the
project area, provision of improved infrastructure and coordinated support
services for sustainable development, and establishment of Water Management
Organizations (WMOs) to sustain the project benefits with strengthened
institutional arrangements.
 
The project will be implemented from January 2024 to December 2028.
The release said ADB Ordinary Operations (Concessional) loan is repayable in
25 years including 5 years grace period. Its interest rate is fixed two
percent.

ADB is one of the largest multilateral development partners of Bangladesh. It
is extending assistance to the country's prioritized sectors since Bangladesh
became a member of the ADB in 1973.

ADB's total loan to Bangladesh stands at US$31547.47 million whereas total
grant amounts to around US$571.2 million. ADB's development assistance mainly
focuses on power, energy, local government, transport, education,
agriculture, health, water resources, governance and financial sectors of
Bangladesh.