Bangladesh signs USD 230 million loan agreement with Asian Development Bank to rebuild flood-hit northeast

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Kathmandu, April 19. The Asian Development Bank (ADB) announced on Tuesday that it has signed agreements with the government of Bangladesh to provide loans of 230 million U.S. dollars. 

According to a spokesperson for the ADB, the amount will be used for reconstructing flood hit areas in the country’s northeastern part. “It will help in reconstruction, improvement of resilience, and economic recovery of the northeastern districts of Brahmanbaria, Habiganj, Kishoreganj, Moulvibazar, Mymensingh, Netrokona, Sherpur, Sunamganj and Sylhet.”

As per an official statement, an additional 1 million dollar technical assistance grant from the ADB’s Technical Assistance Special Fund will support implementing agencies in building their capacities in disaster risk management and early warning systems.

Last year in May and June, the northeastern parts of the country experienced record high torrential downpour, which caused massive flooding affecting millions of people residing in the Haor region. 

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