Washington, Dec (V7N)— The World Bank has approved a significant $1.6 billion financing package for Bangladesh to support reforms in health, water, sanitation, and climate-resilient development. The announcement came following the approval by the World Bank's board in Washington on Friday morning.

The loan is allocated for three major projects aimed at tackling critical challenges in the country.

Focus Areas and Allocations:

1. Environmental and Climate-Resilient Programs:

$500 million has been allocated for environment-friendly initiatives.

The program aims to address pollution, which the World Bank highlighted as a significant obstacle to Bangladesh's development.

2. Health and Sanitation in Sylhet and Chittagong:

$380 million will go toward enhancing health and sanitation systems in these divisions.

The project is expected to benefit 5.1 million people, reducing maternal and child mortality rates.

3. Clean Water Supply in Chittagong:

$280 million has been approved to ensure clean water supply to 200,000 families in Chittagong.

The Planning Commission of Bangladesh has expressed optimism about these funds, stating they will align with a revised medium-term budget structure prioritising sustainable development.

This financing comes at a critical time for Bangladesh, as it grapples with environmental challenges and the need for improved health and sanitation infrastructure. The World Bank’s support underscores its commitment to helping the nation achieve sustainable growth and resilience in the face of climate change.

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