The Asian Development Bank (ADB) will provide a loan of USD 230 million to Bangladesh to help the rehabilitation and reconstruction efforts in the northeastern part of the country affected by devastating floods in May–June 2022. The agreement between ADB and the government of Bangladesh was signed in Dhaka on Monday.
Record rainfall in northeastern Bangladesh in May–June 2022 caused massive flooding, especially in the low-lying Haor region, affecting 7.2 million people.
The assistance under the Flood Reconstruction Emergency Assistance Project will help in the reconstruction, improvement of resilience, and economic recovery of northeastern districts of Brahmanbaria, Habiganj, Kishoreganj, Moulvibazar, Mymensingh, Netrokona, Sherpur, Sunamganj, and Sylhet.
The project will also support water management through alternative wetting and drying technology, direct seeded rice, and the use of solar irrigation for climate adaptation and mitigation.
ADB
The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field offices around the world to promote social and economic development in Asia.
From 31 members at its establishment in 1966, ADB has grown to encompass 68 members—of which 49 are from within Asia and the Pacific and 19 outside.