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The Asian Development Bank and the government of Bangladesh on Sunday signed a loan agreement for $106 million to improve water resources management and agricultural productivity in rural Bangladesh, the AFP reports.
An agreement for a grant of $17.80 million from the government of the Netherlands was also signed.
ADB will administer the grant, which will finance innovative pilot works and consulting services focusing on innovation.
The Climate and Disaster Resilient Small-Scale Water Resources Management Project will provide accelerated support to address climate impacts and food security by raising and strengthening flood embankments, deepening channels to increase water retention, providing efficient electric pump-pipe, providing training, developing capacity, and supporting climate-smart agriculture, agribusinesses, and fishery development," says Edimon Ginting, country director for Bangladesh.
The innovative and climate resilience features of the project have attracted $42.98 million loan co-financing from the International Fund for Agricultural Development and $17.80 million grant from the government of the Netherlands.
The government of Bangladesh provides $58.22 million counterpart funds.
It will establish 150 new water management cooperative associations and strengthen 230 existing ones, support emergency reconstruction and modernization of the Bakkhali rubber dam scheme, construct 110 kilometers of farm and village roads with all-weather features, and increase participation of women, youth
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A customized collection of grant news from foundations and the federal government from around the Web.
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