World Bank pledges $2 billion aid to Bangladesh to tackle climate change
Posted on: 20 Oct 2016 18:06:16
20 October 2016 Current Affairs: The World Bank has pledged 2 billion US dollars aid package to Bangladesh to tackle climate change over the next three years.
The aid package is part of the World Bank’s fund for the poorest countries. Bangladesh is extre
mely vulnerable to climate change and accounts for almost 70% of all storm surges in the world. The aid package aims to further develop the resilience of the people at a time when climate change is putting their lives and livelihoods at greater risk.
This is the second large investment announcement made by the World Bank President Jim Yong Kim during his 2-day visit to Bangladesh. Earlier he had announced to provide US $1 billion aid to Bangladesh over the next three years to fight child malnutrition.
The World Bank has provided Bangladesh more than $24 billion in financing in the last 45 years. Bangladesh is the largest recipient of International Development Association (IDA) assistance, having received over 24 billion US dollars since Independence.
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