Bangladesh is likely to receive $400 million credit support from the Asian Infrastructure Investment Bank (AIIB) for implementing critical structural reforms meant to build climate resilience in development activity. An official from the Bangladesh Finance Ministry informed that the loan programme is likely to be approved within a week.
The loan will co-finance the ‘Climate Resilient Inclusive Development Programme (Sub-programme 1)’ with the Asian Development Bank (ADB) which has already provided $400 million. The official informed that with funding from the ADB, the key targets of this policy-based programme had already been achieved.
The funding supports the government of Bangladesh to undertake key policy reforms to mainstream climate adaptation, mitigation, and disaster resilience in critical sectors and unlock climate investments in the country.