Climate damage: The Asian Development Bank (ADB) has approved a $400 million loan to combat climate change damage. The amount of loan in Bangladeshi currency is 4 thousand 393 crores (as per dollar 109 taka 83 paisa).
This loan was approved in the board meeting of the organization on Friday (December 08).In this regard, ADB’s Principal Public Management Economist Aminur Rahman said that the impact of climate change is seriously disrupting Bangladesh’s economic growth and poverty alleviation. Bangladesh is strongly committed to meeting this challenge and ADB is ready to support Bangladesh in its efforts as the region’s climate bank.
This information was informed in a press release of ADB’s Dhaka office. It is said that this loan is being given to the Government of Bangladesh for the implementation of the National Climate Adaptation Plan (2023-50) and inclusive development with emphasis on climate in light of the Paris Agreement.
Bangladesh is one of the most vulnerable countries due to climate change. The country is working by forming a fund to combat climate change.
According to ADB, the loan is the first sub-programme of the $7 billion climate-resilient inclusion program. The loan will support Bangladesh’s development of climate resilience, transition to a low carbon economy, reduction of greenhouse gas emissions, gender equality and social inclusion in the government’s climate initiatives.
Climate damage
Climate damage
