World Bank will give a loan of 250 million dollars to Bangladesh. The organization has approved this loan to encourage the private sector in environment-friendly investment.
This information was informed in a press release of the World Bank on Thursday (December 1).
According to the notification, this loan is being supported to strengthen the technical and administrative capacity of the Department of Environment under the Bangladesh Environmental Sustainability and Transformation (BEST) project. The project will work to prevent pollution and improve the quality of environment.
According to the notification, a green credit guarantee scheme will also be established under this loan assistance to encourage the financial sector to invest in environment-friendly investments to reduce air pollution. Successful implementation of the project will benefit more than 21 million people living in Greater Dhaka and beyond.
Dandan Chen, Acting Country Director of the World Bank in Dhaka, said that the World Bank has been a long-standing partner in tackling environmental challenges in Bangladesh. The project will strengthen the country’s environmental institutions for better pollution control and sustainable development.