News Desk: The World Bank has approved a loan of 25 million dollars for Bangladesh. The company is providing this loan to reduce pollution and encourage the participation of the non-business sector in environmentally friendly investments. The World Bank reported this information in a press release on Friday.
According to the notification, Bangladesh will get 30 years with a grace period of five years to repay this loan under the International Development Association program of the World Bank. Under the 'Bangladesh Environmental Sustainability and Transformation' project, the government will use the funds to reduce pollution and increase administrative and technical capacity to enforce environmental laws.
It is informed that the loan money will also be used to set up an environment-friendly credit guarantee scheme for environment-friendly investments in certain sectors and to reduce air pollution.
The World Bank also mentioned in the notification that if this project can be successfully implemented with the help of loans, pollution will be reduced and 2 crore 10 lakh people of Dhaka and surrounding areas will benefit.
World Bank Acting Country Director (Bangladesh and Bhutan) Dundan Chen said, 'Bangladesh is paying a high price for pollution and environmental pollution for rapid economic growth and urbanization. Pollution is not only increasing health problems, but also reducing the country's economic competitiveness. The World Bank has been Bangladesh's long-standing development partner in addressing environmental challenges. With the money of this fund, it will be easier to increase the capacity of the institutions working in environmental protection in Bangladesh, and promote more effective pollution control and sustainable development.