World Bank approved 200 million dollar loan for safe water & sanitation in Bangladesh
The World Bank (WB) has approved a 200 million dollar loan for Bangladesh in order to improve access to safe water and sanitation services in the rural areas of the country. The Bangladesh Rural Water, Sanitation and Hygiene (WASH) project will help 6 lakh people to get access to clean water through piped water schemes in rural areas.
Highlights of the Project
- The project will provide sanitation services to over 3.6 million rural people in Bangladesh.
- The WB said that the project will help to prevent diseases.
- The project would also help people to protect them from pandemics like COVID 19 by providing access to Water, Sanitation and Hygiene (WASH) facilities at homes and in public places.
- The project would provide clean water and sanitation services. It will reduce diarrheal diseases, improve nutrition, health and also reduce stunting among children under five.
- The project will also help to set up more than 2500 handwashing stations in public places.
- It will also set up overhead tanks for running water and sanitation facilities.
- To ensure the quality and sustainability of piped water scheme and fecal sludge management, project will train the local entrepreneurs.
The loan has been provided as 30 year concessional credit which has a grace period of five years. The credit comes from the World Bank’s International Development Association (IDA). Bangladesh currently has the largest ongoing IDA program worth over USD 13.5 billion.
International Development Association (IDA)
The International Development Association (IDA) is an international financial institution under the World Bank. It offers concessional loans and grants to the world’s poorest developing countries. It has been headquartered in Washington, D.C. , United States. It was established in 1960. It was established with an objective to help the existing International Bank for Reconstruction and Development by lending to developing countries which suffer from the lowest gross national income. It is important to note that, The International Development Association and International Bank for Reconstruction and Development are collectively called as the World Bank.