Thursday, November 22, 2007

World Bank Assistance to Bangladesh

November 21, 2007-The World Bank has offered up to US$250 million in the aftermath of Cyclone Sidr to help millions of Bangladeshis recover and to strengthen the country’s disaster mitigation systems.

Bank assistance could be used to support short-term needs like food imports, the rapid procurement of medical supplies, cash grants to the poorest victims and help to get people back on their feet and recovering their sources of income and livelihood. Bank support could also help Bangladesh manage macroeconomic shocks over this period of challenge.In the longer term, Bank support would be available for infrastructure rehabilitation, especially damage to embankments and other flood mitigation and shelter infrastructure. Xian Zhu, World Bank Country Director for Bangladesh commended the progress that this disaster-prone country has made in dealing with the short and longer term impact of periodic floods and cyclones.
The Bank’s assistance will also support coastal zone management to help Bangladesh face the challenge of climate change by both mitigating the inevitable impact of future storms and designing the necessary adaptations to protect people and their livestock.
The cyclone support will complement existing commitments from the World Bank in response to massive floods in August and September. The Bank provided US$75 million in quick-disbursing financing as an initial flood response and will support restoration and rehabilitation through reallocation of existing funds to support reconstruction and improvements in the areas of agriculture, health, communications, water and sanitation.
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