ADB, World Bank to help Bangladesh with flood losses
Foreign donors and international monetary agencies will contribute to recovery of the losses that Bangladesh incurred during two spells of floods this year.
DHAKA: Foreign donors and international monetary agencies will contribute to recovery of the losses, estimated at between $200-250 million, that Bangladesh has incurred during two spells of floods this year.
Finance Adviser Mirza Azizul Islam said foreign donors would provide a large part of the funds required for bearing the losses.
His appeal for help to Asian Development Bank (ADB) President Haruhiko Kuroda resulted in a visit from ADB Director General for South Asia Kunio Senga.
The World Bank has already pledged a $75 million loan as flood assistance.
Coordinated by the ADB, other donors to contribute to the post-flood reconstruction efforts are Japan Bank for International Cooperation (JBIC) and the Canadian International Development Agency (CIDA). The contributions will include loans and grants.