The Asian Development Bank (ADB) has announced a commitment of $1 billion to Bangladesh’s inclusive development over the next five years with emphasis on climate resilience and environmental sustainability. ADB Country Director Hoe Yun Jeong met with adviser to Bangladesh’s Ministry of Environment, Forest and Climate Change and adviser to the Ministry of Water Resources Syeda Rizwana Hasan on January 5, 2025 at the Forest Department in Dhaka to make the commitment.
Emphasis on Climate-Focused, Inclusive Development
During the meeting, Rizwana Hasan highlighted the ADB’s growing focus on climate-centric initiatives and socially inclusive activities, as opposed to traditional infrastructure projects. She stressed the importance of addressing pressing environmental issues through tangible actions, not just plans.
Rizwana highlighted government efforts to rejuvenate eight big rivers across the country’s eight divisions and demanded ADB concentrate efforts on river cleansing around Dhaka.
Rizwana spoke on a set of environmental challenges that require an urgent response in the form of solid waste management, sewage treatment, salinity intrusion, waterlogging, and the increasingly recurring human-elephant conflict in some places. She sought assistance from the ADB in overcoming these issues with the support of concessionary loans for funding the climate resilience initiatives undertaken by the government.
ADB’s Commitment to Bangladesh’s Environmental Goals
In response, Hoe Yun Jeong assured that the ADB would provide Bangladesh with $1 billion annually in concessional financing over the next five years. He also mentioned the possibility of additional grants to accelerate Bangladesh’s environmental projects. ADB’s financial support, Jeong said, would be aimed at helping the country meet its climate resilience goals, with a particular focus on river cleaning initiatives, which he described as a priority.
Jeong also emphasized ADB’s commitment to increasing community engagement and public consultations in the planning and implementation of projects.
Also read: ADB and India Collaborate to Boost Climate-friendly Infrastructure with $500 Million Loan
The meeting also included senior officials from Bangladesh’s Ministry of Environment, Forest and Climate Change, including the Environment Secretary, Joint Secretary, and Chief Conservator of Forests, along with representatives from the ADB. The senior officials ensured to attend the meeting to collaborate on environmental issues, which would help bring long-term sustainability.