Building coastal climate resiliency in Bangladesh
IFAD to fund US$40.5 million project
Rome 28 June 2013 – To strengthen the resilience of people living in the coastal areas of the People’s Republic of Bangladesh, the International Fund for Agricultural Development (IFAD) will extend a loan of US$39.5 million and a grant of $1 million for the Coastal Climate Resilient Infrastructure Project (CCRIP). The project is jointly funded by the Bangladesh government, IFAD, the Asian Development Bank (ADB), and the German Kreditanstalt für Wiederaufbau (KfW).
Mohammed Shahdat Hossain, Ambassador of the People's Republic of Bangladesh to Italy, and Kevin Cleaver, IFAD’s Associate Vice-President, signed the financing agreements at the Fund’s headquarters in Rome today.
The country is vulnerable to flooding and natural disasters. The area where the CCRIP will be implemented is remote and underdeveloped. Just last month, cyclone Mahasen swept through coastal areas killing people and destroying livelihoods. In addition to the increasingly extreme weather events, rural women and men struggle with already poor infrastructure such as roads and lack the needed resources to grow their businesses.
Through the project, the Bangladesh government and its development partners aim to support 3.5 million poor women and men to improve their lives through enhanced climate resilience measures to increase their food security and incomes. The project will be implemented in 32 sub-districts (upazilas), identified by the scale of poverty, vulnerability, remoteness, and lack of basic infrastructure.
More specifically, the project will focus on improving road connectivity and market services; while boosting the climate change adaptation capacity of communities to cope with harsh and frequent climate events. This includes ensuring roads are compliant with climate-resilient standards and supporting local radio stations to be better equipped to keep people living in remote areas up-to-date with weather and market information.
Much of the construction work will be done through labour contracting societies (LCS), which provide poor local women with training to act as contractors for building roads and markets. Previous IFAD-supported projects revealed that creating wage labour for women empowers them both economically and socially. Former LCS members used loans to improve their housing situation and to start their own small business, such as dairy processing.
IFAD has been working in Bangladesh for more than 30 years. With this loan and grant, the Fund will have financed 30 programmes and projects in Bangladesh for a total investment of $650 million, benefiting close to 10 million households.
Press release No.: IFAD/31/2013
The International Fund for Agricultural Development (IFAD) works with poor rural people to enable them to grow and sell more food, increase their incomes and determine the direction of their own lives. Since 1978, IFAD has invested about US$14.9 billion in grants and low-interest loans to developing countries through projects empowering over 410 million people to break out of poverty, thereby helping to create vibrant rural communities. IFAD is an international financial institution and a specialized UN agency based in Rome – the United Nations’ food and agriculture hub. It is a unique partnership of 172 members from the Organization of the Petroleum Exporting Countries (OPEC), other developing countries and the Organisation for Economic Co-operation and Development (OECD).
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