World Bank Loans B'desh US$102 Mln for Water Management
Date: 20-Sep-07
Country: BANGLADESH
At least 2 million households will benefit from the
project, which aims to reduce crop losses during the
pre-monsoon and monsoon periods and increase agricultural
production through improved drainage, flood control and
expansion of irrigation.
Bangladesh is prone to recurring natural disasters like
floods, erosion, cyclones and tidal surges and each year up to
30 percent of the country is inundated, flooding about 6
million hectares.
"As we have just learned from the recent devastating
floods, management of water resources is critical to mitigate
the impact of floods," said Xian Zhu, country director for the
World Bank.
"This project will support rehabilitation and improvement
of existing flood control, drainage, and irrigation schemes,
which will reduce the vulnerability to future natural
disasters," he said.
The credit from the International Development Association,
the Bank's concessionary arm, has 40 years to maturity with a
10-year grace period, and carries a service charge of 0.75
percent.
(US$1 = 68.70 taka)