• Saturday, Dec 05, 2020
  • Last Update : 10:50 am

WB offers Tk2,000cr assistance fund to address flood disaster

  • Published at 12:48 am August 16th, 2017
  • Last updated at 01:03 am August 16th, 2017
WB offers Tk2,000cr assistance fund to address flood disaster
The World Bank has offered a Tk2,000-crore assistance fund to address the country’s ongoing flood and natural disaster, official sources have said. According to an ERD official, WB has made such an offer to address the post-flood disaster in the country. The global lender is interested in offering this loan in a new way beyond its continuous support provided by IDA every year in Bangladesh. “It is a new product of World Bank for assistance to people living in flood-affected areas,” ERD Secretary Kazi Shafiqul Azam told the Dhaka Tribune on Tuesday. The WB proposal has already been sent to different ministries and divisions for their opinion and a discussion will take place thereafter, added the secretary. According to sources, IDA offers the highest amount of $25 million or equal to 0.5% of Bangladesh’s GDP size. Under the new proposal, such loan will be available over the course of next three years to combat the rapid losses in the wake of disaster. [caption id="attachment_154404" align="aligncenter" width="900"]20728315_353 Photo: Collected[/caption] Through the renewal of contract, the fund would be available for another three years after the current term expires and no commitment fee will be charged for this. Opinions on the WB proposal from the Ministry of Finance, the Ministry of Disaster and Relief and all ministries and departments concerned have been sought. Under the IDA-17 programme, Bangladesh receives a total of $4.3 billion from 2015 through 2017 while such kind of fund under IDA-18 is likely for 2018-2020 period. Referring to the importance of this loan, WB said Bangladesh has a financial loss of about $320 billion dollar in flood and cyclone every year, which is equal to 2.1% of the country’s  GDP. According to statistics, the amount of damage caused by natural disaster in Bangladesh from 2000 to 2013 is more than $10 billion in financial value, but the amount of aid, relief and rehabilitation of disaster-affected people in this period is only worth $2 billion dollar. According to the World Bank, Bangladesh is one of the easiest loan borrowers from IDA with only 0.75 interest rate.
50
50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail